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. 

Spot rate:                  212.09

Relative change:      +0.66%

High:                         214.54

Low:                          204.09

ETH/USD

Overview
Today last price 212.63
Today Daily Change 1.89
Today Daily Change % 0.90
Today daily open 210.74
 
Trends
Daily SMA20 229.01
Daily SMA50 264.64
Daily SMA100 239.28
Daily SMA200 187.66
Levels
Previous Daily High 215.12
Previous Daily Low 205.89
Previous Weekly High 229.73
Previous Weekly Low 200.9
Previous Monthly High 363.54
Previous Monthly Low 226.48
Daily Fibonacci 38.2% 209.41
Daily Fibonacci 61.8% 211.59
Daily Pivot Point S1 206.05
Daily Pivot Point S2 201.36
Daily Pivot Point S3 196.82
Daily Pivot Point R1 215.27
Daily Pivot Point R2 219.81
Daily Pivot Point R3 224.5

 

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. 

 

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Chart Analysis: Symmetrical triangle breakout to power BTC/USD above $9700

BTC/USD has charted a symmetrical triangle breakout in the last hour, opening doors for a test of the pattern target at 9746. Despite the bullish breakout, its likely to remain an uphill task for the bulls to achieve the target, given a bunch of healthy resistance levels. 

More Bitcoin News

XRP/USD: Path of least resistance appears to the downside

XRP/USD is struggling to extend its recovery beyond 0.20 on Saturday, as the bulls remain in a wait-and-see for the fourth straight session. While extending the range play, the bears are seen fighting back control, as suggested by the near-term technical set up.

More Ripple News

BCH/USD: Bulls eye $280 amid falling wedge breakout

Bitcoin Cash (BCH/USD) is consolidating the latest uptick to a daily high of 257.50, having recovered losses following a dip to 253.47. The No. 5 coin has charted a bullish breakout on the hourly chart. The bulls look to extend the upside break to $280.   

More Bitcoin Cash News

Crypto Market Update: Ethereum outperforms its main rivals on the road to recovery

Crypto bulls are trying hard to extend the recovery on Saturday. Ethereum outperforms Bitcoin and Ripple, looking to settle the week with 4.50% gains. The top 2 widely traded coins are poised for additional upside.  

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC/USD needs to go down again before it goes up

After a head-spinning volatility at the beginning of the week, BTC/USD settled above $9,600 with minor gains on a week-on-week basis. A shall Doji candle on a weekly chart is an alarming signal that the bulls are exhausted by uncertainty and large price swings. 

Read the weekly forecast

BTC

ETH

XRP