Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

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.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.