Ethereum (ETH/USD) glided higher in today’s North American session as the pair traded as high as the 189.27 level after buying demand emerged around the 184.97 area early in today’s North American session. Earlier in today’s Asian session, ETH/USD traded as low as the 183.30 area, below the 183.82 area that represents the 23.6% retracement of the appreciation from 148.08 to 194.86. Notably, this level was also just below the 38.2% retracement of the appreciation from 166.40 to 194.86. Chartists are also observing that the market remained above the 184.72 level during a pullback today, a level that represents the 61.8% retracement of the appreciation from 178.46 to 194.86. The 184.01 area remains an important technical level for the pair, an upside price objective related to buying pressure that emerged around the 90.00 level in March.
Other levels of technical significance include the 198.09 and 199.16 levels, upside price objectives related to buying pressure that emerged around the 90.00 level. If the pair is able to resume its upward trajectory above current price activity, additional upside price objectives include the 196.54 and 206.29 levels. Below current price activity, downside price objectives include the 176.99, 171.47, and 165.95 levels. Chartists are observing that the 50-bar MA (4-hourly) bullishly continues to indicate above the 100-bar MA (4-hourly) and 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) bullishly moved above the 100-bar MA (hourly), and continues to indicate above the 200-bar MA (hourly).
Price activity is nearest the 50-bar MA (4-hourly) at 178.84 and the 50-bar MA (Hourly) at 186.15.
Technical Support is expected around 164.56/ 158.26/ 150.27 with Stops expected below.
Technical Resistance is expected around 196.54/ 206.29/ 213.05 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.