Ethereum (ETH / USD) tried to recover some new losses early in the Asian session as traders increased long positions above the psychologically important 3000 figure. Traders lifted ETH / USD to 2985.39 during yesterday’s Asian session, following a brief period of trading activity below the 200-hour simple moving average. The ETH / USD was recently trading around 3275, representing a correction test of 23.6% from 1718.41 to 3744.53. 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 intended by a third party and for informational purposes
