Published
4 years ago on
March 29, 2020
Ethereum (ETH/USD) improved in today’s North American session as the pair moved higher to the 129.20 area after bids emerged around the 125.01 level earlier in today’s Asian session. Strong selling pressure emerged around the 137.84 area early in today’s Asian session and Stops were eventually elected just below the 130.29 and 127.41 levels during the move lower, areas that represent downside price objectives related to offers that emerged around the 142.50 area. Traders then took the market back to the 130.09 area before selling pressure pushed the pair back to the 125.50 level. Above current price activity, upside price objectives include the 134.96 and 137.84 levels.
Below current price activity, downside price objectives include the 122.75 and 116.21 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 escalate higher to the 144 area, and then weaken to the 125 area. Chartists are observing that the 50-bar MA (4-hourly) has recently bullishly crossed above the 100-bar MA (4-hourly), and that the 50-bar MA (hourly) has recently bearishly crossed below the 200-bar MA (hourly).
Price activity is nearest the 100-bar MA (4-hourly) at 128.61 and the 200-bar MA (Hourly) at 133.22.
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 Bullishly above SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.
Investment Disclaimer
