Ethereum (ETH/USD) moved to multi-week highs in today’s North American session as the pair traded as high as the 194.86 level after Stops were elected above the 191.22 level, a recent relative high established earlier this week. The pair stopped short of testing the 196.54 level, a downside price objective related to selling pressure that intensified around the 252.99 level in early March. 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. Nearby 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.
Also, another 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 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 175.65 and the 50-bar MA (Hourly) at 181.09.
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 Bearishly below SlowD while MACD is Bearishly below MACDAverage.