ETH/USD had a bearish opening this Thursday and is currently trading for $268.75. This Wednesday has been pretty bullish as the price went up from $265.15 to $269.25. The market has found support on the upward trending line and is trending above the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. The Elliot oscillator has had a bearish session after six straight bullish sessions. On the upside, the nearest resistance level lies at $272.50 and the closest support level is at $265.25
The 4-hour ETH/USD market has had a triangle formation from which the market had a bullish breakout. The market has met resistance at the SMA 20 curve, but it is trending above the SMA 200 and SMA 50 curves. The moving average convergence/divergence (MACD) indicator shows that the signal line is about to converge with the MACD line, indicating decreasing bearish momentum.
The hourly ETH/USD is trending in a flag formation. The red cloud of the Ichimoku indicator has acted as resistance to the hourly market. The latest session broke past the support provided by the upward trending line, indicating that the bears are in control of the market. The relative strength index (RSI) indicator is trending around 55.
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.
The sentiment is currently bearish in the early hours of Thursday.
ETH/USD daily chart ETH/USD had a […]
Cardano is ranked at #12, right after Stellar Lumens and above Monero on coinmarketcap. According to the latest available data,… Read More
We are often told that the verification of bitcoin transactions eats a lot of energy. The largely inaccurate comparison to… Read More
Bitcoin mining is about to become mainstream and legal in Iran | Source: Lars Hagberg / AFP The government of… Read More
SummaryI believe that IDEX is a company without a clear identity and vision.IDEX's transition towards blockchain and fintech is bewildering.Currently,… Read More
Over the past couple of years, there have been a number of fast-growing industries that have caught the attention of… Read More
In around 300 days, Bitcoin (BTC) will experience what is known as a “halving” or “halvening”. This event, which occurs… Read More