Ethereum (ETH/USD) came off early in the Asian session as the pair depreciated to the 3251.47 level after trading as high as the 3343 area during the North American session, with the interday high representing a fresh lifetime high after the psychologically-important 3000 figure was eclipsed for the first time. Stops were elected above several upside price objectives during the sharp rise, including the 3067.80, 3164.19, 3174.26, 3181.61, and 3239.60 levels. Stops were earlier elected above the 2865.42, 2677.40, and 2585.62 areas.
During a recent pullback, Stops were also recently elected below the 2311.47, 2251.76, 2165.15, 2068.50, and 2046.89 levels. Additional upside price objectives include the 3543.39, 3902.15, 4113.61, and 4136.61 areas levels. Potential technical support levels during pullbacks include the 3038.86, 2935.01, 2824.11, and 2698.63 areas. 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 50-bar MA (4-hourly) at 2766.41 and the 50-bar MA (Hourly) at 3033.35.
Technical Support is expected around 2624.00/ 2515.12/ 2427.13 with Stops expected below.
Technical Resistance is expected around 3543.39/ 3902.15/ 4113.61 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 Bullishly above 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.
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