Ethereum (ETH/USD) continued its upward glide higher in today’s North American session as the pair printed above the 146.00 level after trading as high as the 146.81 area during today’s European session. Stops were elected above many levels during the push higher during Thursday’s North American session, including 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 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 Bearishly below MACDAverage.