Published
3 years ago on
April 10, 2021
Ethereum (ETH/USD) lost ground early in the Asian session as the pair depreciated to the 2120.68 level after trading as high as the 2195 area during the North American session, with the interday high representing a new lifetime high. Technical support recently emerged around the 50-hour simple moving average and pushed BTC/USD to the fresh lifetime high, with this level also representing a test of an upside price objective around the 2210.42 area. Stops were elected above the 2098.84 and 2103.71 levels during the push higher. If ETH/USD extends its upward strength, additional upside price objectives include the 2210.42 and 2460.24 levels.
Below current market levels, some areas of potential technical support during pullbacks include 1982.07, 1850.34, 1734.88, and 1637.42. Beyond those levels, additional areas of technical support include 1403.13, 1296.30, and 1205.96. Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).
Price activity is nearest the 50-bar MA (4-hourly) at 2073.62 and the 50-bar MA (Hourly) at 2103.46.
Technical Support is expected around 1285.87/ 1205.96/ 1128.29 with Stops expected below.
Technical Resistance is expected around 2195.00/ 2210.42/ 2460.24 with Stops expected above.
On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
Disclaimer: This trading analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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