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Crypto Technicals: ETH/USD holds above 21-EMA, weakness only on break below
ETH/USD chart - Trading View
Exchange - Bifinex
Support: 161.98 (21-EMA); Resistance: 186.95 (Trendline)
Technical Analysis: Bias Neutral to Slightly Bullish
- ETH/USD is trading in a narrow range, bias neutral to slightly bullish
- Price action has edged above 200-DMA for the first time in April
- The pair hit multi-week highs at 187.98 on April 8th and has since seen some pullback
- Retrace has managed to hold above 200-DMA and finds strong support at 21-EMA (currently at 161.97
- Break below 21-EMA will see weakness till 200-DMA. Breach at 200-DMA negates bullishness.
- On the upside, continued upside momentum can see gains till trendline resistance at 186.95
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.