• ETH/USD broke out the channel formation on the hourly chart.
  • Ethereum is now trading 4.50% higher as general crypto sentiment turns positive.

 

Ethereum has broken out of the channel formation on the hourly chart. The move was backed by good volume on the Coinbase exchange.

Now the 180.00 level is the resistance to beat but it has proved to be a difficult level in the past.

Right now price is resting at the value area. This is indicated by the bell curve on the left-hand side of the chart.

The relative strength indicator (RSI) has pushed to the highest level since the beginning of last month.

If we do get a retracement the market might look at the trendline it has just broken out of.

Ethereum Analysis

 

ETH/USD

Overview
Today last price 178.03
Today Daily Change 7.66
Today Daily Change % 4.50
Today daily open 170.37
 
Trends
Daily SMA20 188.35
Daily SMA50  184.84
Daily SMA100 213.5
Daily SMA200 209.69
 
Levels
Previous Daily High 177.2
Previous Daily Low 168.1
Previous Weekly High 186.07
Previous Weekly Low 164.46
Previous Monthly High 224.69
Previous Monthly Low 152.51
Daily Fibonacci 38.2% 171.58
Daily Fibonacci 61.8% 173.73
Daily Pivot Point S1 166.58
Daily Pivot Point S2 162.78
Daily Pivot Point S3 157.47
Daily Pivot Point R1 175.68
Daily Pivot Point R2 181
Daily Pivot Point R3 184.79

 

 

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