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ETH/USD Tests 1666 Resistance, Then Dives: Sally Ho's Technical Analysis 26 February 2021 ETH

ETH/USD Tests 1666 Resistance, Then Dives:  Sally Ho's Technical Analysis 26 February 2021 ETH

Ethereum (ETH/USD) came off early in today’s Asian session as the pair depreciated to the 1445.79 area after trading as high as the 1672.49 area during the North American session, with the interday high representing a test of the 50% retracement of the depreciating range from 1976.72 to 1356.  Chartists observe the intraday low was just below the 23.6% retracement of the depreciating range from 1805.03 to 1356Stops were elected above various retracement levels during the recent recovery higher, including the 1633.50 area that represents the 61.8% retracement of the depreciating range from 1805.03 to 1356Stops were elected below many downside retracement levels during the depreciation earlier this week, including 1773.22, 1747.24, 1722.31, 1702.67, 1656.37, 1607.31, 1585.49, and 1540.52. If ETH/USD extends its recent depreciation, potential technical support includes 1328.99, 1285.87, and 1205.96.

Stops were also recently elected above the 1930.40, 1957.36, and 2017.05 levels during the appreciation, areas related to historical buying pressure around the 215.16, 370.50, and 176.43 areas. Stops were also recently elected above upside price objectives including the 1711.20, 1716.45, 1733.12, 1750.63, and 1805.21 levels, upside price objectives were technically significant on account of buying pressure that originated around the 148.08, 310.79, 439.77, and 123.72 areas.  If ETH/USD is able to extend its upward gains, additional upside price objectives include the 2080.48, 2134.98, 2150.66, and 2210.42 levels.  Traders are observing that the 50-bar MA (4-hourly) is bearishly indicating below the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 200-bar MA (4-hourly) at 1630.78 and the 50-bar MA (Hourly) at 1612.40.

Technical Support is expected around 1328.99/ 1285.87/ 1205.96 with Stops expected below.

Technical Resistance is expected around 2080.48/ 2134.98/ 2150.66 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 Bearishly below MACDAverage.

                                                                                                                                                                     

Disclaimer: This trading analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

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