- ETH/USD remains depressed while keeping downside break of five-week-old support line.
- Bearish MACD suggests another attempt to break 50-day EMA support.
- Monthly horizontal line adds to the upside barrier.
ETH/USD extends the previous day’s downside momentum to 574.11, down over 1.0%, during early Thursday. The crypto major took a U-turn from the horizontal area including an early-month high on Wednesday before declining below an ascending trend line from November 15. However, a 50-day EMA triggered the pair’s bounce that couldn’t last beyond 594.00.
ETH/USDFollowing that, ETH/USD drops back below the stated support line, now resistance, amid bearish MACD, which in turn suggests further weakness.
As a result, Ethereum sellers are targeting a 50-day EMA level of 550.88 by press time before eyeing the monthly low near 530.30.
During the quote’s further weakness past-530.30, the 500 threshold and late-November bottom around 480.00 will be in the spotlight.
On the flip side, a clear break above the immediate resistance line, previous support, at 585 now, needs to cross the horizontal area with an upper end of 638.50
In a case where the ETH/USD bulls manage to cross 638.50 on a daily closing basis, it should be a cakewalk for the optimists to refresh the monthly peak surrounding 677.00.
ETH/USD daily chart
Trend: Bearish
Additional important levels
| Overview | |
|---|---|
| Today last price | 575.24 |
| Today Daily Change | -9.87 |
| Today Daily Change % | -1.69% |
| Today daily open | 585.11 |
| Trends | |
|---|---|
| Daily SMA20 | 599.36 |
| Daily SMA50 | 544.81 |
| Daily SMA100 | 458.21 |
| Daily SMA200 | 386.22 |
| Overview | |
|---|---|
| Today last price | 575.24 |
| Today Daily Change | -9.87 |
| Today Daily Change % | -1.69% |
| Today daily open | 585.11 |
| Trends | |
|---|---|
| Daily SMA20 | 599.36 |
| Daily SMA50 | 544.81 |
| Daily SMA100 | 458.21 |
| Daily SMA200 | 386.22 |
| Levels | |
|---|---|
| Previous Daily High | 638.75 |
| Previous Daily Low | 551.45 |
| Previous Weekly High | 677.05 |
| Previous Weekly Low | 563.79 |
| Previous Monthly High | 623.22 |
| Previous Monthly Low | 370.5 |
| Daily Fibonacci 38.2% | 584.8 |
| Daily Fibonacci 61.8% | 605.4 |
| Daily Pivot Point S1 | 544.79 |
| Daily Pivot Point S2 | 504.47 |
| Daily Pivot Point S3 | 457.49 |
| Daily Pivot Point R1 | 632.09 |
| Daily Pivot Point R2 | 679.07 |
| Daily Pivot Point R3 | 719.39 |
| Levels | |
|---|---|
| Previous Daily High | 638.75 |
| Previous Daily Low | 551.45 |
| Previous Weekly High | 677.05 |
| Previous Weekly Low | 563.79 |
| Previous Monthly High | 623.22 |
| Previous Monthly Low | 370.5 |
| Daily Fibonacci 38.2% | 584.8 |
| Daily Fibonacci 61.8% | 605.4 |
| Daily Pivot Point S1 | 544.79 |
| Daily Pivot Point S2 | 504.47 |
| Daily Pivot Point S3 | 457.49 |
| Daily Pivot Point R1 | 632.09 |
| Daily Pivot Point R2 | 679.07 |
| Daily Pivot Point R3 | 719.39 |
From: FXSTREET
