Ethereum (ETH/USD) gave back some recent gains early in the Asian session as the pair tested technical support after recently establishing a fresh all-time high around the 4461.96 area. Stops were recently elected above a series of upside price objectives, including the 4318, 4330, and 4335 levels, propelling ETH/USD to its new all-time high. Buying pressure also emerged around the 100-bar, 4-hour simple moving average after recently being tested. Additional upside price objectives include the 4491.60, 4504.01, 4523.05, 4633.03, 4793.70, 4895.12, 5035.94, 5060.87, and 5268.46 areas.
Following the recent appreciation, downside price retracement levels and areas of potential technical support include the 4025, 3818, 3762, 3550, 3428, 3338, 3113, 3075, and 3035 levels. Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).
Price activity is nearest the 100-bar MA (4-hourly) at 3880.89 and the 200-bar MA (Hourly) at 4065.69.
Technical Support is expected around 3515.25/ 3375.24/ 3235.23 with Stops expected below.
Technical Resistance is expected around 4518.94/ 4633.03/ 4793.70 with Stops expected above.
On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
Disclaimer: This trading analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Credit: Source link
