- ETH/USD has a chance to extend the recovery.
- Critical support lies with $115.00.
ETH/USD is changing hands at $122.47, marginally down in recent 24 hours. The second largest coin managed to recover after a retracement from Friday’s high. However, it is still below the critical resistance of $125.50, that separates us from an extended recovery towards January high at $132.80.
ETH/USD daily confluence detector
ETH/USD daily confluence detector reveals several support areas below the current price:
- $122.60-$122.00 - this support area is packed with critical technical levels, including SMA50 1-hour, SMA10 1-hour, Bollinger Band 1-hour Middle, 23.6% Fibo retracement daily, Bollinger Band 4-hour Middle, SMA10 4hour, DMA5.
- Once below, we will have only minor support levels around $121.00-$120.80 (SMA100 1-hour and the lower boundary of Bollinger Band 1-hour) and $117.00 ( 23.6% Fibo retracement monthly).
- $115.00 - the next critical support created by 38.2% Fibo retracement weekly, SMA50 4hour and SMA200 1hour.
On the upside, the confluence detector reveals the following critical zones:
- $124.80-$125.00 - ETH/USD is having a hard time with DMA50, Bollinger Band 1-hour Upper and 61.8% Fibo retracement daily located in this area.
- $127.00-$127.40 - this is a strong barrier created by the upper boundary of Bollinger Band on a daily chart, 38.2% Fibo retracement monthly and Pivot Point 1-day Resistance 1. This area also encompasses the recent high of $127.00.
- Once the price is above the said level, ETH bulls will set their eyes on psychological $130.00 and January high at $132.80 with little in terms of technical resistance levels on their way.
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.
Critical support lies with $115.00.
ETH/USD is changing hands at $122.47, marginally down in recent 24 hours. The second […]