ETH/USD Drops from 2458: Sally Ho's Technical Analysis Jun 18, 2021 ETH

Ethereum (ETH/USD) remained under pressure at the start of today's Asian session as the pair dropped to 2365.59 after climbing as high as the 2459.53 area during the European session. From 1725.86 to 2911.54. Traders see that the intraday low represents a 38.2% retracement test from the 2182.20 to 2480.69 value range. The stops were selected above the 2553.11 and 2565.21 levels during the recent higher move, representing a 50% recovery of the depreciation ranges 2873.35 to 2257.07 and 2849.15 to 2257.07. Possible technical support levels during pullbacks are 2178, 2005, 1979, 1783 and 1725. During the valuation, which recently hit an all-time high around the 4384.43 region, Stops were selected over areas 3987.65, 4113.81 and 4136.61, buying pressure rising around the number 90 associated with bullish price targets historically. Potential technical resistance areas include 2742, 3056 and 3369. Traders note that the 50-bar (4-hour) MA below the 100-bar (4-hour) MA is a bearish indicator. and below 200 bar MA (4 – hour). Also, the 50 bar (per hour) MA gives bearish indication below the 100 bar (hours) MA and below the 200 bar (hours) MA. Price activity is closest to 50 bar MA (4 hours) at 2466.76 and 50 bar MA (hours) at 2464.76. Technical support is expected around 1860/ 1783.89/ 1755.41 with the following stops. Technical resistance is expected around 3122.22/3420.10/ 3788.66 and expected stances above. On the 4-hour chart, SlowK is bearish below SlowD, while MACD is bearish below the MACDA average. On the 60-minute chart, SlowK is bullish above SlowD while MACD is bullish above MACDAverage. Disclaimer: This trade analysis is provided

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