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Ethereum technical analysis: ETH/USD should the bears breach $200 mark, it could invite further free fall

  • Ethereum price in the session on Friday is trading firmly in the red, down some 5.0%.
  • ETH/USD invited a wave of selling pressure, following a breakout from rising wedge structure. 
  • Buyers are fighting to protect the psychological $200 mark.
Ethereum technical analysis: ETH/USD should the bears breach $200 mark, it could invite further free fall
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 209.88

Relative change:      -3.50%

High:                         226.79

Low:                          207.27

ETH/USD

Overview
Today last price208.92
Today Daily Change-11.89
Today Daily Change %-5.38
Today daily open220.81
 
Trends
Daily SMA20219.1
Daily SMA50256.51
Daily SMA100245.16
Daily SMA200192.39
Levels
Previous Daily High226.79
Previous Daily Low214.39
Previous Weekly High222.76
Previous Weekly Low197.53
Previous Monthly High318.46
Previous Monthly Low190.64
Daily Fibonacci 38.2%219.13
Daily Fibonacci 61.8%222.05
Daily Pivot Point S1214.54
Daily Pivot Point S2208.27
Daily Pivot Point S3202.14
Daily Pivot Point R1226.94
Daily Pivot Point R2233.06
Daily Pivot Point R3239.34

ETH/USD daily chart

  • Price action is breaking out from a rising wedge structure, inviting a fresh wave of selling pressure.

ETH/USD 60-minute chart

  • Buyers protecting the $200 price mark, as can be seen via the 60-minute.

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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