Ethereum (ETH / USD returned recent gains at the start of the Asian session as the pair recently rose to the 3275-released level of 3017.09, a test for a 23.6% correction of the December increase from 1718.41 to 3744.53.right now. December was selected below 3118.18 and 3056.22 during the retreat, which was 50% of the increase December from 1718.41 to 4517.94 and 50% of the decrease range from 4384.43 to 1728. The recent upward movement was the strongest since mid-May, when the ETH / USD rose sharply from 4384.43.
Traders noted that the valuation of multi-week highs was in the region of 3266.37, the target of price growth against recent emerging buying pressure in the region of 2152. After moving to multi-month highs, decoupling levels and potential technical support areas include 2877.16, 2655.72, 2476.76, 2297.79 and 2076.35. Traders note that the 50-bar average (4 hours) is rising above the 100-bar average (4 hours) and above the 200-bar average (4 hours). In October, 50 bars average (per hour) rises above 100 bars average (per hour) and 200 bars average (per hour).
Price activity is closest to the 50 bar average (4 hours) at 2994.46 and the 200 bar average (hours) at 2988.46.
Technical support expected in the region 1700/ 1633.51/ 1456.03 you’d expect that to happen with the stops below.
Technical resistance expected to be close 3266.37/ 3420.10/ 3788.66 with stops expected above.
On the 4-hour chart, SlowK is below slow, while MACD is below the Macda average.
On the 60-minute chart, SlowK is below the slow one, while MACD is below the Macda average.
DISCLAIMER: This trade analysis is provided by a third party and is for INF
