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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.
Ethereum Technical Analysis: ETH/USD retreats after brief charge into the $200-zone
Rajarshi MitraRajarshi MitraIndependent Analyst

ETH/USD hourly chart

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 price198.1
Today Daily Change1.43
Today Daily Change %0.73
Today daily open196.67
 
Trends
Daily SMA20175.45
Daily SMA50153.73
Daily SMA100186.66
Daily SMA200172.63
 
Levels
Previous Daily High197.85
Previous Daily Low192.45
Previous Weekly High194.46
Previous Weekly Low166.66
Previous Monthly High252.76
Previous Monthly Low89.65
Daily Fibonacci 38.2%194.51
Daily Fibonacci 61.8%195.79
Daily Pivot Point S1193.46
Daily Pivot Point S2190.25
Daily Pivot Point S3188.05
Daily Pivot Point R1198.87
Daily Pivot Point R2201.06
Daily Pivot Point R3204.27

Author

Rajarshi Mitra

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.

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