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Crypto Technicals: ETH/USD edges higher from session lows at 170.01, holds above 5-DMA
ETH/USD chart - Trading View
Exchange - Bifinex
Support: 164.22 (21-EMA); Resistance: 190.35 (Trendline)
Technical Analysis: Bias Slightly Bullish
- ETH/USD has edged higher from session lows at 170.01, bias slightly bullish
- Price action has edged above 200-DMA for the first time in April, scope for further upside
- Pullback from multi-week highs at 187.98 on April 8th and held above 200-DMA
- The pair finds strong support at 21-EMA (currently at 164.22), break below will see weakness till 200-DMA.
- A 'Potential Golden Cross' formation on the daily charts keeps scope for upside.
- On the upside, continued upside momentum can see gains till trendline resistance at 190.35
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.