Ethereum technical analysis: Will ETH/USD re-enter the $240-zone for the first time in more than three weeks?


  • ETH/USD fell from $233.55 to $228.25 in the early hours of Tuesday.
  • Bears have taken control of the hourly ETH/USD market.

ETH/USD daily chart

fxsoriginal

The daily ETH/USD chart has found support on the upward trending line. Initial resistance level lies at $234.50. The 20-day simple moving average (SMA 20) and SMA 200 curves are trending below the daily chart, while the SMA 50 is trending above. The Elliot oscillator shows 14-straight bullish sessions.

ETH/USD 4-hour chart

fxsoriginal

The 4-hour ETH/USD was trending in the red Ichimoku cloud before trending upwards. The price went up to $233.85, where it met resistance, consolidated for a bit, and then dropped down to $228.25. The relative strength index (RSI) indicator was trending in the overbought zone before falling to 60.95.

ETH/USD hourly chart

fxsoriginal

The market met resistance at $233.20 before dropping down to $228.25. The hourly price chart is flirting with the lower curve of the Bollinger band. The 20-day Bollinger jaw is narrowing, indicating lower market volatility. The moving average convergence/divergence (MACD) indicator shows increasing bearish momentum.

Key Levels

ETH/USD

Overview
Today last price 228.32
Today Daily Change -4.88
Today Daily Change % -2.09
Today daily open 233.2
 
Trends
Daily SMA20 218.39
Daily SMA50 259.21
Daily SMA100 243.23
Daily SMA200 190.87
Levels
Previous Daily High 236.94
Previous Daily Low 222.72
Previous Weekly High 222.76
Previous Weekly Low 197.53
Previous Monthly High 318.46
Previous Monthly Low 190.64
Daily Fibonacci 38.2% 231.51
Daily Fibonacci 61.8% 228.15
Daily Pivot Point S1 224.97
Daily Pivot Point S2 216.73
Daily Pivot Point S3 210.75
Daily Pivot Point R1 239.19
Daily Pivot Point R2 245.17
Daily Pivot Point R3 253.41

 


 

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