- Etheruem price on Monday trading up with decent gains of 3.6% into the second half of the day.
- ETH/USD bounced off a large daily support area seen at $133, a failure to hold could see a free-fall back down to $100.
ETH/USD 15-minute chart
- Narrowing price action observed via the 15-minute chart view, indicating of a potential near-term explosive breakout.
Spot rate: 138.39
Relative change: +3.62%
High: 141.04
Low: 133.28
Trend: Bullish
Trends:
Daily SMA20: 128.81
Daily SMA50: 124.49
Daily SMA100: 122.95
Daily SMA200: 179.85
Levels:
Previous Daily High: 167.77
Previous Daily Low: 133.2
Previous Weekly High: 152.82
Previous Weekly Low: 123.04
Previous Monthly High: 163.23
Previous Monthly Low: 102.17
Daily Fibonacci 38.2%: 146.4
Daily Fibonacci 61.8%: 154.56
Daily Pivot Point S1: 121.89
Daily Pivot Point S2: 110.26
Daily Pivot Point S3: 87.32
Daily Pivot Point R1: 156.46
Daily Pivot Point R2: 179.4
Daily Pivot Point R3: 191.04
ETH/USD 60-minute chart
- Price action narrowing within a pennant pattern structure, something seen with several of its peers.
ETH/USD daily chart
- Price action managed to catch a firm chunky bounce off key daily support, eyed at the $133 level.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Latest Crypto News & Analysis
Editors’ Picks
XRP Price Prediction: Ripple might retrace before heading higher
XRP price saw a swift breach of the overhead supply barrier, flipping it into support. This move indicates the presence of buyers; therefore, it is likely Ripple will continue to head higher.
Citigroup launches digital asset unit to offer crypto services for wealthy clients
Wall Street firm Citigroup is the latest institution to offer crypto services for its rich clients. The global bank launched a new business unit dedicated to the new asset class and the blockchain space.
Litecoin Price Forecast: LTC offers a compelling opportunity above $146
Litecoin price is trying to recover support at the 50-week simple moving average (SMA) as LTC now trades in the upper half of the weekly range. The rebound has channeled minimal interest as daily volume has shrunk every day.
Ethereum EIP-1559 upgrade launches on Ropsten testnet as London hardfork nears
One of the most anticipated updates for the Ethereum network in 2021, the London hardfork scheduled for July, includes a controversial Ethereum Improvement Proposal (EIP) 1559. Ethereum core developer Tim Beiko announced that the London hardfork was ...
Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive
Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.