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ETH/USD Absorbs 184.01: Sally Ho's Technical Analysis 18 April 2020 ETH

ETH/USD Absorbs 184.01: Sally Ho's Technical Analysis 18 April 2020 ETH

Ethereum (ETH/USD) gave back some gains in today’s North American session as the pair peaked around the 185.38 area.  Stops were reached above the 177.39 area, a downside price objective related to selling pressure that emerged around the 252.99 area in March, and this represents ETH/USD’s strongest showing since then.  Additional Stops were elected above the 184.01 area, an upside price objective related to buying pressure that originated around the 90.00 area, and intensified around the 148.08 area.  Some buying pressure emerged around the 170.04 area during a pullback in Thursday’s North American session and yesterday’s Asian session, a level that represents the 76.4% retracement of the depreciation from 176.82 to 148.08.  Below current price activity, traders will be curious to see how price activity will react around the 154.57 and 149.31 levels, representing the 61.8% and 76.4% retracements of the appreciation from 140.81 to 176.82.  Another important range that traders are monitoring is the appreciation from 123.82 to 176.72, with the 150.27 level representing the 50% retracement and the 144.00 level representing the 61.8% retracement

Another very important level that traders are watching is the 159.62 level, an upside price objective related to buying pressure that emerged around the 90.00 level in March.   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 144.00, 140.81, and 136.25 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 continues to indicate above the 100-bar MA (hourly) and 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 162.37 and the 50-bar MA (Hourly) at 173.28.

Technical Support is expected around 153.22/ 149.31/ 146.77 with Stops expected below.

Technical Resistance is expected around 185.38/ 196.54/ 206.29 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 Bearishly below SlowD while MACD is Bullishly above MACDAverage.

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