ETH/USD 1DAY UPDATE BY CRYPTO SANDERS Ethereum / U.S. Dollar (BI
Updated
Hello, welcome to this ETH /USD 1DAY chart update by CRYPTOSANDERS.
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-Ethereum (ETH) also consolidated in today’s session, with momentum marginally shifting on Thursday.
ETH/USD dropped to a bottom of $1,246.21 earlier in the day, which comes less than 24 hours after hitting a high of $1,264.81.
Despite the drop, sentiment remains somewhat bullish, as ETH continues to trade above its long-term resistance level at $1,230.
From the chart, the 10-day (red) and 25-day (blue) moving averages also remain close in proximity, maintaining chances of an upwards crossover.
This seems to be one of the factors in place that is keeping bullish sentiment alive. However, with the RSI now falling lower, this could begin to change.
Since failing to break out of a ceiling at the 57.00 level, price strength is now tracking at 55.40.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
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I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-Ethereum (ETH) also consolidated in today’s session, with momentum marginally shifting on Thursday.
ETH/USD dropped to a bottom of $1,246.21 earlier in the day, which comes less than 24 hours after hitting a high of $1,264.81.
Despite the drop, sentiment remains somewhat bullish, as ETH continues to trade above its long-term resistance level at $1,230.
From the chart, the 10-day (red) and 25-day (blue) moving averages also remain close in proximity, maintaining chances of an upwards crossover.
This seems to be one of the factors in place that is keeping bullish sentiment alive. However, with the RSI now falling lower, this could begin to change.
Since failing to break out of a ceiling at the 57.00 level, price strength is now tracking at 55.40.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
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CHART ANALYSIS:-Ethereum (ETH) was also marginally lower on Friday, as prices attempted to remain above a key support point.
Following a high of $1,255.42 on Thursday, ETH/USD fell to a bottom of $1,242.63 earlier in today’s session.
ETH managed to remain above its recent price floor of $1,230 despite today’s decline, which could still be broken, depending on the NFP number.
As can be seen from the chart, the 10-day (red) and 25-day (blue) moving averages continue to move closer, with an upwards crossover very likely.
Should such a move occur, the RSI will also need to move higher, and possibly break out of its current ceiling at the 57.00 mark.
This will also certainly increase the chances of ethereum climbing back above the $1,300 resistance point.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
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CHART ANALYSIS:-Ethereum (ETH) also moved higher to start the weekend, with prices moving gradually closer to $1,300.
Following a low of $1,240.95, ETH/USD raced to an intraday high of $1,273.22, which is its highest point since December 17.
Today’s move comes as an upwards crossover of moving averages has recently occurred, with the 10-day (red) trend line moving higher versus the 25-day (blue) line.
Typically such a move is a sign of current and future bullish momentum, and this could likely tempt more bulls to re-enter the market.
The next target will undoubtedly be the aforementioned $1,300 ceiling, which will likely be hit once the RSI climbs past its current ceiling at 59.00.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
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