Ethereum (ETH/USD) remained pressured in today’s North American session as the pair continued to trade below the 132.00 level after trading as high as the 135.00 area during today’s European session. Notably, the 134.96 area is a downside price objective related to selling pressure that emerged around the 142.50 level on 27 March. Stops were recently triggered below the 127.41 level during the depreciation, and the next downside price objective related to that level is the 122.75 area. Traders will be curious to see how the market reacts when it next approaches the 127.41 level.
Above current market activity, upside price objectives include the 137.84, 139.50, 140.12, 141.52, and 149.09 levels. Below current market activity, downside price objectives include the 119.84, 116.59, 110.01, and 102.33 levels. Chartists are observing that the 50-bar MA (4-hourly) has recently bullishly crossed above the 100-bar MA (4-hourly), and that the 200-bar MA (hourly) has recently bearishly crossed above the 100-bar MA (hourly). Another important technical level that traders are monitoring is the 124.81 level, an upside price objective related to buying pressure that originated around the 90.00 level.
Price activity is nearest the 100-bar MA (4-hourly) at 128.57 and the 200-bar MA (Hourly) at 132.59.
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 Bullishly above MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.