ETH/USD Finds Technical Support Around 133.40: Sally Ho's Technical Analysis 25 March 2020 ETH

ETH/USD Finds Technical Support Around 133.40: Sally Ho's Technical Analysis 25 March 2020 ETH

Ethereum (ETH/USD) gained marginal ground in today’s North American session as the pair traded as high as the 137.04 area after finding bids around the 132.92 area during yesterday’s European session.  ETH/USD had earlier traded as high as the 142.79 area, just below the 143.19 area that represents an upside price objective related to buying pressure that originated around the 90.00 area on 13 March.  Stops were triggered above that 143.19 level earlier in the week during the pair’s ascent.  Chartists observe that the 50-bar MA (hourly) recently converged with the 100-bar MA (hourly), and that the 50-bar MA (4-hourly) is bullishly converging with the 100-bar MA (4-hourly).

Below current price activity, downside price objectives include the 131.74, 130.21, 127.54, 126.48, and 124.59 levels.  Trading activity this month has seen the market open March around the 218 level, climb to the 253 area, sharply depreciate to the 90 area, reclaim lost ground to the 154 area, depreciate to the 115 level, and then escalate higher to the 144 area.  Stops were elected above the 130.67 and 133.40 levels during the pair’s ascent late last week, eventually testing the 154.00 area, right around the 154.03 area that represents a downside price objective related to selling pressure that commenced around the 253.01 level on 7 March.  Upside price objectives include the 153.22, 156.77, and 159.62 levels

Price activity is nearest the 100-bar MA (4-hourly) at 140.69 and the 50-bar MA (Hourly) at 136.82.

Technical Support is expected around 119.84/ 115.51/ 110.18 with Stops expected below.

Technical Resistance is expected around 153.22/ 156.77/ 159.62 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 Bullishly above SlowD while MACD is Bearishly below MACDAverage.

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