Ethereum Technical Analysis: ETH/USD retreats after brief charge into the $200-zone

The buyers and sellers have regularly engaged in a tug of war for control of the market this Tuesday.
The MACD in the hourly chart shows sustained bullish momentum.

Rajarshi Mitra Independent Analyst

ETH/USD hourly chart

ETH/USD had a bullish start to Wednesday, as the price went up slightly from $196.65 to $198.48. In the process, the buyers took control following two consecutive bearish days. The hourly breakdown shows that there was a brief charge by the bulls to enter the $200-zone, but they lacked the momentum needed to do so, following which they immediately retreated. Throughout this Tuesday, the bulls and bears were engaged in a prolonged tug-of-war for control. Finally, the MACD indicates sustained bullish market momentum.

Key levels

ETH/USD

Overview
Today last price	198.1
Today Daily Change	1.43
Today Daily Change %	0.73
Today daily open	196.67

Trends
Daily SMA20	175.45
Daily SMA50	153.73
Daily SMA100	186.66
Daily SMA200	172.63

Levels
Previous Daily High	197.85
Previous Daily Low	192.45
Previous Weekly High	194.46
Previous Weekly Low	166.66
Previous Monthly High	252.76
Previous Monthly Low	89.65
Daily Fibonacci 38.2%	194.51
Daily Fibonacci 61.8%	195.79
Daily Pivot Point S1	193.46
Daily Pivot Point S2	190.25
Daily Pivot Point S3	188.05
Daily Pivot Point R1	198.87
Daily Pivot Point R2	201.06
Daily Pivot Point R3	204.27

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

ETH/USD hourly chart

Key levels

ETH/USD

Legal Text

Markets move fast. We move first.

Editor's Picks