- ETH/USD bounces off intraday low after stepping back from 2018 top the previous day.
- Short-term bearish chart pattern, MACD signals probe bulls.
- 50-bar SMA, two-week-old support line can entertain the bears.
ETH/USD portrays a bearish chart pattern, rising wedge, following its pullback from the highest since January 2018. The quote recently bounces off an intraday low of $1,160 but remains pressured with over 3.0% losses since the start.
ETH/USDOther than the bearish formation, MACD also favors the short-term sellers. However, a clear downside break of $1,300 becomes necessary for the ETH/USD bear’s entry.
Following that 50-bar SMA and an upward sloping trend line from December 23, respectively around $940 and $820 can return to the charts during the Ethereum fall targeting the previous month’s low near $530.
Alternatively, $1,2.50 and the recent high near $1,300 can test intraday buyers before probing them by the resistance line of the stated rising wedge, at $1,310 now.
In a case where the ETH/USD bulls dominate past-$1,310, the year 2018 peak surrounding $1,420 will be on their radars.
To sum up, the Ethereum bulls are catching a breather and the quote can witness further consolidation of the recent gains if the short-term bearish chart pattern gets confirmed.
chartETH/USD four-hour chart
Trend: Pullback expected
Additional important levels
| Overview | |
|---|---|
| Today last price | 1185.76 |
| Today Daily Change | -41.58 |
| Today Daily Change % | -3.39% |
| Today daily open | 1227.34 |
| Trends | |
|---|---|
| Daily SMA20 | 785.56 |
| Daily SMA50 | 660.5 |
| Daily SMA100 | 530.13 |
| Daily SMA200 | 431.45 |
| Overview | |
|---|---|
| Today last price | 1185.76 |
| Today Daily Change | -41.58 |
| Today Daily Change % | -3.39% |
| Today daily open | 1227.34 |
| Trends | |
|---|---|
| Daily SMA20 | 785.56 |
| Daily SMA50 | 660.5 |
| Daily SMA100 | 530.13 |
| Daily SMA200 | 431.45 |
| Levels | |
|---|---|
| Previous Daily High | 1291.94 |
| Previous Daily Low | 1140 |
| Previous Weekly High | 759 |
| Previous Weekly Low | 625.01 |
| Previous Monthly High | 759 |
| Previous Monthly Low | 530.32 |
| Daily Fibonacci 38.2% | 1233.9 |
| Daily Fibonacci 61.8% | 1198.04 |
| Daily Pivot Point S1 | 1147.58 |
| Daily Pivot Point S2 | 1067.82 |
| Daily Pivot Point S3 | 995.64 |
| Daily Pivot Point R1 | 1299.52 |
| Daily Pivot Point R2 | 1371.7 |
| Daily Pivot Point R3 | 1451.46 |
| Levels | |
|---|---|
| Previous Daily High | 1291.94 |
| Previous Daily Low | 1140 |
| Previous Weekly High | 759 |
| Previous Weekly Low | 625.01 |
| Previous Monthly High | 759 |
| Previous Monthly Low | 530.32 |
| Daily Fibonacci 38.2% | 1233.9 |
| Daily Fibonacci 61.8% | 1198.04 |
| Daily Pivot Point S1 | 1147.58 |
| Daily Pivot Point S2 | 1067.82 |
| Daily Pivot Point S3 | 995.64 |
| Daily Pivot Point R1 | 1299.52 |
| Daily Pivot Point R2 | 1371.7 |
| Daily Pivot Point R3 | 1451.46 |
From: FXSTREET
