Ethereum (ETH / USD) made some new gains at the start of the Asian session as it fell to 3221.57 after last trading during the European session, testing an intraday high, a 61.8% correction of the December decline from 4384.43 to 1728. Traders note that ETH / USD is then under pressure in correction territory, 78.6% of the short-term decline from 3378.60 to 3280. The decline in parity slowed to about 61.8% of the recent December increase from 3128.82 to 3378.60 during the North American session.
If there is October upward pressure, the upward correction reaches potential technical resistance levels of 3448.52, 3757.51, 3815.95, 3857.25, and 4384.43. After moving to month highs, downward correction levels and potential technical support areas include 2966.89, 2728.51, 2490.12, 2195.17 and 2150.73. 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). It also rises above the 50-bar average (per hour), the 100-bar average (per hour), and the 200-bar average (per hour).
Price activity is closest to 50 bar average (4 hours) at 3198.41 and 200 bar average (hours) at 3201.10.
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 3448.52/ 3788.66/ 4384.43 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 informational purposes only. It does not fit these views
