TA: Ethereum Adjusts Earnings, Here's Why 100 SMA Is The Key To More Earnings

Ethereum has not moved above $ 2,900 against the US Dollar. Adjusted earnings for ETH price are currently $ 2,640 and are trading near the significant support at the 100 hourly SMA. Ethereum broke the $ 2,850 resistance but didn't move above $ 2,900. The price is currently testing the $ 2,650 support and the 100 hourly simple moving average. There was a break below a major bullish trend line with support at $ 2,750 on the hourly chart of ETH / USD (data streaming via Kraken). The pair should stay above the 100 hourly SMA to avoid falling into the $ 2380 support. Ethereum price hit key support, pushing the Ethereum rally above the $ 2,800 and $ 2,850 resistance levels. ETH even climbed above the $ 2,900 level and settled well above the 100 hourly easy moving average. However, it did not exceed $ 2,900. The bulls made two attempts to push the price above the $ 2,920 level, but failed. The recent high was formed at $ 2,912 before the price started a downside correction. Ether was corrected below the $ 2,850 and $ 2,800 support levels. There was a break below a major bullish trend line with support at $ 2,750 on the hourly chart of ETH / USD. The pair even broke below the 23.6% Fib retracement level of the bullish move. It rose from a low of $ 2370 to $ 2912. Ether price is currently testing the $ 2,650 support and the 100 hourly simple moving average. It rose from near the 50% Fib retracement level of the upward swing from $ 2370 to $ 2912. Source: ETHUSD on TradingView.com On the upside, there is sudden resistance near the $ 2800 broken trend line. The next major resistance is near the $ 2,900 level where the price may try to move towards the $ 3,000 resistance area. More losses in ETH? If Ethereum does not continue above the $ 2800 and $ 2900 resistance levels, it could extend its decline. Initial bearish support is near the $ 2,650 area and the 100 hourly SMA. A fault below 100 SMA per hour can be triggered

Join the Discussion

  • BrokerEUR/USD
    ETX Capital 0.6pips (variable) margin: 3.33%
  • Back to top