Published
2 years ago on
May 10, 2021
Ethereum (ETH/USD) extended recent gains early in the Asian session as the pair appreciated to the 4198.99 level after trading as low as the 3984 area during the North American session, with the interday high representing a test of the fresh lifetime high of 4174.46 that was established in the European session. Stops were elected above the 3987.65, 4113.81, and 4136.61 areas during the move to a new all-time high, upside price objectives related to historic buying pressure that originated around the 90 figure. Additional upside project objectives include the 4278.38, 4378.89, 4453.47, 4471.68, 4522.73, 4550.12, and 4609.38 levels.
Stops were also recently elected above several upside price objectives during ETH/USD’s sharp rise, including the 3067.80, 3164.19, 3174.26, 3181.61, 3239.60, 3544.77, 3644.05, 3847.64, and 3902.15 levels. Potential technical support levels during pullbacks include the 3692.83, 3513.12, 3185.46, and 3088.81 areas. Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).
Price activity is nearest the 50-bar MA (4-hourly) at 3523.02 and the 50-bar MA (Hourly) at 3945.58.
Technical Support is expected around 3692.83/ 3513.12/ 3185.46 with Stops expected below.
Technical Resistance is expected around 4278.38/ 4378.89/ 4453.47 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 Bullishly above SlowD while MACD is Bullishly above 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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