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FxWirePro: ETH/USD trades just shy of 5-DMA, break above to see minor bullishness

ETH/USD plunged to 556 levels on Tuesday but was able to close above 100-DMA at 783 levels. It is currently trading at 782 levels at the time of writing (Kraken).

On the upside, immediate resistance is seen at 808 (5-DMA) and a break above would target 856 (Cloud bottom)/899 (55-EMA). Further strength would see it testing 930 (10-DMA)/962 (50-DMA)/1001 (20-DMA).

On the downside, a break below 729 (lower Bollinger) would target 691 (100-DMA)/645 (113% extension of 1594.89 and 755). Further weakness would drag it to 600/556 (February 06 low)/526.

Momentum studies: On the daily chart, MACD line is below the signal line, RSI is weak at 40, stochs are near oversold levels, and major moving averages are biased lower – suggesting bearish bias. The pair’s upside is being capped by 5-DMA.

However, intraday bias appears bullish – on the 4h chart, stochs are biased higher, RSI is at 49 with upward bias, and MACD line is above the signal line.

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2018-02-19 16:32:32
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2018-02-19 16:31:45
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February 19 13:00 UTC Released

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6.2 %

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4.6 %

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4.6 %

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2.8 %

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3.1 %

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-1541 %

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-1541 %

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 2844028440m

ARAnnual Primary Balance*

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2016 bln ARS

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