- Ethereum has increased by a small 1.3% in the last 24 trading hours, with the cryptocurrency reaching $ 170.
- He now faces 100-day EMA resistance and has struggled here for the past 3 days.
- Against Bitcoin, Ethereum continues to perform well since it reached 0.0234 BTC.
Key support and resistance levels
ETH / USD:
Support: $ 165, $ 150, $ 145.
Resistance: $ 175, $ 180, $ 188.
ETH / BTC:
Support: 0.023 BTC, 0.022 BTC, 0.0215 BTC.
Resistance: 0.0235 BTC, 0.024 BTC, 0.0247 BTC
ETH / USD: Ethereum fights at 100 days EMA
Ethereum dropped from the $ 175 level in our last analysis, but managed to find support at $ 165. It has since rebounded since then, but has struggled to exceed the 100-day EMA resistance.
Ethereum has been up this week after increasing 25% overall, but it has to break resistance to the 100-day EMA to keep it moving towards $ 200.
ETH-USD short-term price forecast
Above the 100-day EMA, the resistance is $ 180, which is provided by the 200-day EMA. Above that, resistance is at $ 188 (bearish retracement of 0.5 Fib), $ 194 and $ 200.
On the other hand, the first level of solid support is expected at $ 165. Below, the support is at $ 150, $ 145 and $ 140.
The RSI fell slightly due to near overbought conditions. If the RSI continues to fall, this will signal that the buying momentum is fading and will likely cause the ETH to fall back to $ 150. A bearish cross signal on the stochastic RSI will be the first signal that buyers are losing pressure.
ETH / BTC: Can Ethereum reach 0.025 BTC?
Against Bitcoin, the ETH has remained above support at 0.023 BTC for the past 3 days, but has struggled to overcome resistance at 0.0235 BTC. The bulls had raised the price by 0.021 BTC at the beginning of the week to exceed the level of the EMA at 200 days and reach the current level at 0.0234 BTC.
It looks like buyers are losing momentum, but if they can stay above 0.023 BTC, the ETH will remain bullish over the next few days.
ETH-BTC Short-term price forecast
Once the bulls break 0.0235 BTC, resistance is expected to 0.024 BTC, 0.0247 BTC (bearish retracement of 0.618 Fib) and 0.025 BTC. This is followed by additional resistance at 0.0263 BTC.
From below, the first level of support is 0.0023 BTC. Below, the support is located at 0.022 BTC, 0.0215 BTC and 0.021 BTC.
As mentioned, the RSI is about to decline, indicating that the sales momentum is fading slightly. However, as long as the ETH remains above 0.023 BTC, the market will remain bullish and head towards 0.025 BTC.
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