ETH / USD regained 3,000 figure: technical analysis by Sally Ho August 20, 2021 ETH

Ethereum (ETH / USD) strengthened slightly at the start of the Asian session as the pair rose to 3060 after trading around 2960 during the European session, testing an intraday low, that is, a 23.6% correction of the growth December from 1718.41 to 3341.47.  Traders tracking the BTC / USD rise matched a correction of 23.6% in the last December increase range from 2152 to 3341.47.  The stoppages were recently picked up during the recent increase of 3235.10 and 3266.37, price growth targets linked to buyer pressures that occurred around 1718.41 in July. 

Additional reverse correction levels and potential technical resistance areas include zones 3448.52, 3744.53, 3757.51, 3815.95 October 3857.25.  After moving to month highs, decoupling levels and potential technical support areas include areas 2893,53, 2887,09, 2787,81, 2746,74 and 2721,46.  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, the 50-bar average (hour) tends to be below the 100-bar average (hour) and below the 200-bar average (hour).

Price activity is closest to the 100 bar average (4 hours) at 3025.52 and the 50 bar average (hours) at 3048.13.

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 3341.47/ 3420.10/ 3788.66 with stops expected above.

On the 4-hour chart, SlowK is bullish above SLOWD, while MACD is bearish below the Macda average.

On the 60 minutes chart, SlowK tends to rise above SLOWD, while MACD tends to rise above the Macda average.


DISCLAIMER: This trade analysis is provided by a third party and is for informational purposes only. This does not match

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