Ethereum Price Analysis: ETH's rising wedge teases short-term pullback
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ETH/USD portrays a bearish chart pattern, rising wedge, following its pullback from the highest since January 2018. The quote recently bounces off an

  • 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 bounces off intraday low after stepping back from 2018 top the previous day.
  • ETH/USD bounces off intraday low after stepping back from 2018 top the previous day.
  • Short-term bearish chart pattern, MACD signals probe bulls.
  • Short-term bearish chart pattern, MACD signals probe bulls.
  • 50-bar SMA, two-week-old support line can entertain the bears.
  • 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/USD

    Other 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.

    chart

    ETH/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
     
    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

     

    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
     
    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

    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
     
    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

    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
    Overview Overview Overview Today last price 1185.76 Today Daily Change -41.58 Today Daily Change % -3.39% Today daily open 1227.34 Today last price 1185.76 Today last price1185.761185.76 Today Daily Change -41.58 Today Daily Change-41.58-41.58 Today Daily Change % -3.39% Today Daily Change %-3.39%-3.39% Today daily open 1227.34 Today daily open1227.341227.34
     
    Trends
    Daily SMA20 785.56
    Daily SMA50 660.5
    Daily SMA100 530.13
    Daily SMA200 431.45
    Trends Trends Trends Daily SMA20 785.56 Daily SMA50 660.5 Daily SMA100 530.13 Daily SMA200 431.45 Daily SMA20 785.56 Daily SMA20785.56785.56 Daily SMA50 660.5 Daily SMA50660.5660.5 Daily SMA100 530.13 Daily SMA100530.13530.13 Daily SMA200 431.45 Daily SMA200431.45431.45
     
    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
    Levels Levels 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 Previous Daily High 1291.94 Previous Daily High1291.941291.94 Previous Daily Low 1140 Previous Daily Low11401140 Previous Weekly High 759 Previous Weekly High759759 Previous Weekly Low 625.01 Previous Weekly Low625.01625.01 Previous Monthly High 759 Previous Monthly High759759 Previous Monthly Low 530.32 Previous Monthly Low530.32530.32 Daily Fibonacci 38.2% 1233.9 Daily Fibonacci 38.2%1233.91233.9 Daily Fibonacci 61.8% 1198.04 Daily Fibonacci 61.8%1198.041198.04 Daily Pivot Point S1 1147.58 Daily Pivot Point S11147.581147.58 Daily Pivot Point S2 1067.82 Daily Pivot Point S21067.821067.82 Daily Pivot Point S3 995.64 Daily Pivot Point S3995.64995.64 Daily Pivot Point R1 1299.52 Daily Pivot Point R11299.521299.52 Daily Pivot Point R2 1371.7 Daily Pivot Point R21371.71371.7 Daily Pivot Point R3 1451.46 Daily Pivot Point R31451.461451.46

     

     

    From: FXSTREET