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FxWirePro: ETH/USD briefly breaches 50 and plunges, finds support near 2H 50-SMA

ETH/USD broke above the 50 mark on Friday and hit a fresh all-time high at 51.90 levels. However, it failed to hold its strength and dropped to 33.10 levels. It is currently trading at 40 levels at the time of writing (Kraken).

Ichimoku analysis of daily chart:

Tenkan Sen: 30.28

Kijun Sen: 28.61

With the recent price surge, the market cap of Ethereum moved closer to $5 billion. It is currently stands at $3.95 billion.

The pair is trading in the red and has taken support near 2H 50-SMA. Traders are advised to wait for a clear signal on the intraday charts.

On the upside, resistance is seen at 45.97 levels (161.8% extension of 5.92 and 30.67 rally) and a break above would see it testing 51.90 (today’s high)/55.43.

On the flipside, support is seen at 33.49 (2H 50-SMA) and a break below would target 30.29 (2H 90-EMA)/28.91 (50% retracement of 5.92 and 51.90 rally).

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June 23 14:30 UTC Released

USECRI Weekly Annualized*

Actual

3.4 %

Forecast

Previous

3.7 %

June 23 14:30 UTC Released

USECRI Weekly Index*

Actual

143.7 %

Forecast

Previous

144.0 %

June 26 08:00 UTC 779779m

GBIfo Expectations*

Actual

Forecast

Previous

106.5 k

June 26 08:00 UTC 779779m

DEIfo Business Climate*

Actual

Forecast

114.4 bln BRL

Previous

114.6 bln BRL

June 26 08:00 UTC 779779m

DEIfo Expectations*

Actual

Forecast

106.4 %

Previous

106.5 %

June 26 08:00 UTC 779779m

DEIfo Current Conditions*

Actual

Forecast

123.3 mln

Previous

123.2 mln

June 26 08:30 UTC 809809m

GBIfo Expectations*

Actual

Forecast

Previous

40.750 k

June 26 08:30 UTC 809809m

BRBBA Mortgage Approvals

Actual

Forecast

Previous

40.750 k

June 26 11:00 UTC 959959m

BRBBA Mortgage Approvals

Actual

Forecast

Previous

84.2 k

June 26 11:00 UTC 959959m

RUFGV Consumer Conf*

Actual

Forecast

Previous

84.2 %

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