Ethereum (ETH/USD) was relatively steady in today’s North American session as the pair traded as high as the 144.38 level after bids emerged around the 139.04 area earlier in today’s Asian session. One important technical level that traders are closely monitoring is the 144.25 area, representing the 50% retracement of the depreciation from 150.50 to 138.00. ETH/USD ran out of steam just above this level early in today’s North American session, and if traders are able to push the pair higher above this area, the market will pay close attention to the 145.73 and 147.55 levels. Traders are very curious to see if the pair will again test the psychologically-important 150.00 level, following the election of various Stops above many levels during the push higher during Thursday’s North American session. These levels included the 143.19 and 144.03 areas, two upside price objectives related to buying pressure that originated around the 90.00 level last month.
Smaller Stops were triggered above the 144.92, 145.50, and 145.79 levels during the appreciation higher. The price appreciation from late this week represents the pair’s first trading activity above the psychologically-important 150.00 figure since 20 March, and traders will be curious to see if the 154.00 relative high from that date will be tested and absorbed. Above that area, traders will pay close attention to levels that were technically significant when price activity precipitously declined from the 253.01 area in early March. Above current market activity, upside price objectives include the 153.22, 156.77, 159.62, and 168.14 levels. Below current market activity, downside price objectives include the 137.11, 133.95, and 130.04 levels. Chartists are observing that the 100-bar MA (4-hourly) is bearishly converging with the 50-bar MA (4-hourly), and that 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 133.87 and the 50-bar MA (Hourly) at 138.47.
Technical Support is expected around 130.09/ 125.16/ 119.84 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 Bearishly below SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.