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Ethereum technical analysis: ETH/USD subject to a potential explosive breakout given daily narrowing

  • Ethereum on Tuesday is trading marginally in the green, small gains of some 0.90%
  • ETH/USD like many of the other major cryptocurrencies is trading within a narrowing pennant structure. 
  • Heavy defending can be seen at the psychological $200 price mark. 
Ethereum technical analysis: ETH/USD subject to a potential explosive breakout given daily narrowing
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  212.09

Relative change:      +0.66%

High:                         214.54

Low:                          204.09

ETH/USD

Overview
Today last price212.63
Today Daily Change1.89
Today Daily Change %0.90
Today daily open210.74
 
Trends
Daily SMA20229.01
Daily SMA50264.64
Daily SMA100239.28
Daily SMA200187.66
Levels
Previous Daily High215.12
Previous Daily Low205.89
Previous Weekly High229.73
Previous Weekly Low200.9
Previous Monthly High363.54
Previous Monthly Low226.48
Daily Fibonacci 38.2%209.41
Daily Fibonacci 61.8%211.59
Daily Pivot Point S1206.05
Daily Pivot Point S2201.36
Daily Pivot Point S3196.82
Daily Pivot Point R1215.27
Daily Pivot Point R2219.81
Daily Pivot Point R3224.5

ETH/USD 60-minute chart

  • Decent near-term demand zone is observed from $205-200 price range. 

ETH/USD daily chart

  • A daily pennant structure continues to contain the price within a bearish pennant. 

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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