Categories: Ethereum

Ethereum chart, February 7: ETH/USD recovery under threat – confluence detector

Click here to view original web page at
  • ETH/USD recovers from lows; momentum is fading away.
  • Strong resistance is located on the approach to $108.00.

ETH/USD recovered from Wednesday’s low to trade at $105.14 ant the time of writing. Ethereum gained nearly 2% in the recent 24 hours. However, the upside momentum may be limited due to lack of buying activity on the cryptocurrency market.

From the fundamental point of view, Opera integrated ETH purchase functionality to its browser-based wallets available for Android devices. It means users now can buy Ethereum directly from their wallets. The function is available only in Sweden, Norway & Denmark.

This news might have provided support to the coin. But the bullish momentum is fading away on approach to strong technical levels.

ETH/USD daily confluence detector

ETH/USD daily confluence detector reveals three support areas below the current price:

  • $102.00 - psychological level strengthened by the lower boundary of Bollinger Band on a 4-hour chart, and 23.6% Fibo retracement level, closely followed by Bollinger Band 1-hour lower, the lowest level of the previous week and the previous month.
  • $101.00 - with the lowest level of the previous day located on the approach to the above said support, Pivot Point 1-day, Support-1, and Pivot Point 1-month, Support-1.
  • $95.00 - Pivot Point 1-week Support 2.

The upside is a bit more crowded. However, there are also three main resistance areas detected by the daily confluence detector. Bollinger Band 15-min Upper, 23.6% Fibo retracement weekly, Previous high 4-hour and Bollinger Band 4-hour Middle are located right above the current price. Once this area is cleared, the following barriers will come into view:

  • $107.70-$108.00 - this is a tough hurdle created by DMA10, DMA5, 38.2% Fibo retracement weekly and the highest level of the previous day.
  • $110.00-110.50: SMA100, 4-hour, 61.8% Fibo retracement weekly, Pivot Point 1-day Resistance 2.


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.

Strong resistance is located on the approach to $108.00.

ETH/USD recovered from Wednesday’s low to trade at $105.14 ant […]


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by
Tags: eth ether wallet

Recent Posts

  • Altcoins

Denarius – A true cryptocurrency in a sea of ICOs

In a sea of altcoins, Denarius is by far one of the more interesting, innovative blockchain projects released yet. With… Read More

11 mins ago
  • Bitcoin Business

Donald Trump’s bitcoin takedown signals global currency war

US President Donald Trump’s tweet attacking bitcoin ( BTC-USD ) highlights his increasing interest in controlling global currency markets —… Read More

6 hours ago
  • Bitcoin Business

Iran Legalizes Crypto-Mining As “Official Industry”

After weeks of uncertainty, the Iranian government’s Economic Commission has approved a mechanism of cryptocurrency mining in the country, according… Read More

6 hours ago
  • Bitcoin Business

Bullish For Bitcoin? Trump Turns Up Pressure on Federal Reserve to Cut Interest Rates

President Trump is continuing to pressure the Federal Reserve for dragging its feet on interest rate cuts. For some, such… Read More

6 hours ago
  • Bitcoin Business

Blockchain Center’s grand opening attracts local, international leaders

Pictured (l-r) are Eryka Gemma, Nick Spanos, Miami Mayor Francis Suarez, and Scott Spiegel. (Photo credit: World Red Eye) Blockchain… Read More

6 hours ago
  • Bitcoin Business

Bitcoin buyers beware

by Mike Connon As advisors, we typically advise families to take a patient, long-term approach to investing in the market,… Read More

6 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More