Ethereum (ETH / USD) continue to oscillate in today North American session like the pair was under pressure under the 160.00 level after negotiating as low as the 156.23 area during the European session. Stopped were elected below the Level 165.14 during today’s move inferior, a level which represents the 23.6% retracement of depreciation of 176.86 at 161.51. Additional Stopped have been reached below the 164.61 area, representing the 76.4% retracement of appreciation of 161.47 at 174.77. As well, larger stops have been reached below the 163.06 and 158.62 areas, representative 38.2% and 50% retracements of appreciation of 140.81 at 176.82.
Chartists note that buying pressure emerged today just around the 156.54 level, representing the 38.2% retracement of appreciation of 123.72 at 176.82. If the pair is able to resume their upward trajectory above activity at current prices, additional rising price targets include the 186.60 and 198.05 areas. Below current price activity, falling price targets include the 154.57, 150.27, 149.31, and 144.00 levels. Chartists observe that the MA up 50 bars (every 4 hours) remains above the 200 bar MA (every 4 hours), and that the MA at 50 bars (hourly) converges downward with the 100 bar MA (every hour).
Pricing activity is closest to MA 50 bars (Every 4 hours) at 155.65 and the 100 bars MA (Every hour) at 167.94.
Technical support is expected around 156.77 / 153.22 / 149.31 with Stopped expected below.
Technical resistance is expected around 177.39 / 196.54 / 206.29 with Stopped expected above.
Sure 4 hours graphic, SlowK East Bearish decline under SlowD while MACD East Strongly below MACDAverage.
Sure 60 minutes graphic, SlowK East Bullish over SlowD while MACD East Strongly below MACDAverage.