ETH/USD Tests 2533 Technical Support: Sally Ho's Technical Analysis Jun 2, 2021 ETH

Ethereum (ETH/USD) rallied as high as 2714.16 during the European session, while the pair tumbled as low as 2532.28 in the early Asian session, testing the 50% pullback to the day's low. the depreciation range is between 2884 and 2182.20. Traders are seeing higher ETH/USD from the 2748 area during yesterday's Asian session to the 2714.16 area during the European session. Selling pressure has recently increased from the 3567.40 zone, and Stops have been selected under various low price targets and potential technical support areas, including 3485.38, 3212.13, 2938.87, 2725.38, 2600.77, 2549.82, 2451.84, 2334.65, 2178.29, 2054.25, 1987.71, 1944. , 1912.06 and 1874.99 levels. Possible levels of technical support during retreats include 1783.89, 1755.41, 1730.47, 1456.03, 1371.71, 1317.79, 1229.48 and 1103.49. During the recent appreciation to a record high around 4384.43, Stops were selected over the areas 3987.65, 4113.81 and 4136.61, upward price targets related to historical buying pressure emerging around the number 90. Other upward project targets include the levels 4453.47, 4471.68, 4522.73, 4550.12 and 4609.38. Investors noted that the 50 bar MA (4 hours per hour) is below the 100 bar MA (4 hours) and the 200 bar MA (4 hours) in the downtrend. Also, the 50 bar (hourly) MA is a bearish indicator below the 200 bar (hourly) MA and above the 100 bar (hourly) MA. Price activity is closest to the 50 bar (4-hours) MA at 2579.47 and the 200 bar MA (on the hour) at 2565.92. Technical support is expected to stop below around 1860 / 1783.89 / 1755.41. Technical resistance is expected to stop at around 3122.22 / 3420.10 / 3788.66 and above. On the 4-hour chart, SlowK is bearish below SlowD, while MACD is rising above the MACDA average. On the 60-minute chart, SlowK is bullish above SlowD, while MACD is bearish below the MACDA average.

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