Ethereum Price Prediction: Recovery to gain traction only above $164
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Having witnessed a steep sell-off on Friday, Ethereum (ETH/USD) is consolidating the recovery from a four-day low of 152.48 so far this Saturday’s qui

  • ETH/USD consolidates the bounce from four-day lows on Saturday.
  • $164 is the level to beat for the ETH bulls.
  • RSI on hourly sticks trades flat at the midline.
  • ETH/USD consolidates the bounce from four-day lows on Saturday.
  • ETH/USD consolidates the bounce from four-day lows on Saturday.
  • $164 is the level to beat for the ETH bulls.
  • $164 is the level to beat for the ETH bulls.
  • RSI on hourly sticks trades flat at the midline.
  • RSI on hourly sticks trades flat at the midline.

    Having witnessed a steep sell-off on Friday, Ethereum (ETH/USD) is consolidating the recovery from a four-day low of 152.48 so far this Saturday’s quiet trading. The spot remains stuck in a $5 range, as the bulls await a fresh impetus to extend the recent leg higher. The second-most traded cryptocurrency eroded almost $12 a day before, having rallied as high as $170.29 before settling at $158.10. The coin did manage to reverse a part of the previous losses but the rebound could likely gain traction only above the 164 level.  

    Ethereumcryptocurrency

    At the time of writing, Ethereum is up nearly 1.80% around 161.00, enjoying a market capitalization of about $ 17.70 billion.

    Short-term technical outlook

    As observed in the hourly chart, the no. 2 coin has recovered half the Friday’s decline, with the bulls now facing exhaustion at the 50% Fibonacci Retracement of the slump. The buying interest will pick up pace should the price break through the latter. The next resistance is aligned around 164.00 levels, the intersection of the critical 61.8% Fib and the bearish 5-hourly Simple Moving Average (HMA). A reversal from Friday’s troughs will likely resume only on an hourly closing above the abovementioned supply area, opening doors for a test of the horizontal 100-HMA barrier at 167.27.

    Fibonacciresistance

    At the moment, the hourly Relative Strength Index (RSI) is trading neutral at the midline, suggesting a lack of clear directional bias. A breach of the immediate support of the 38.2% Fib at 159.55, will pave the way for a test of the flatter 21-HMA at 158.60 and through that the daily low of 158.05. The next support awaits the confluence of the upward sloping 200-HMA and 23.6% Fib around 156.90

    ETH/USD 1–hour chart

    ETH/USD key levels to consider

    ETH/USD

    Overview
    Today last price 161.02
    Today Daily Change 2.77
    Today Daily Change % 1.75
    Today daily open 158.11
     
    Trends
    Daily SMA20 143.51
    Daily SMA50 174.62
    Daily SMA100 181.66
    Daily SMA200 173.06
     
    Levels
    Previous Daily High 170.3
    Previous Daily Low 152.48
    Previous Weekly High 176.48
    Previous Weekly Low 140.8
    Previous Monthly High 252.76
    Previous Monthly Low 89.65
    Daily Fibonacci 38.2% 159.29
    Daily Fibonacci 61.8% 163.49
    Daily Pivot Point S1 150.3
    Daily Pivot Point S2 142.48
    Daily Pivot Point S3 132.48
    Daily Pivot Point R1 168.11
    Daily Pivot Point R2 178.11
    Daily Pivot Point R3 185.92

     

    ETH/USD

    Overview
    Today last price 161.02
    Today Daily Change 2.77
    Today Daily Change % 1.75
    Today daily open 158.11
     
    Trends
    Daily SMA20 143.51
    Daily SMA50 174.62
    Daily SMA100 181.66
    Daily SMA200 173.06
     
    Levels
    Previous Daily High 170.3
    Previous Daily Low 152.48
    Previous Weekly High 176.48
    Previous Weekly Low 140.8
    Previous Monthly High 252.76
    Previous Monthly Low 89.65
    Daily Fibonacci 38.2% 159.29
    Daily Fibonacci 61.8% 163.49
    Daily Pivot Point S1 150.3
    Daily Pivot Point S2 142.48
    Daily Pivot Point S3 132.48
    Daily Pivot Point R1 168.11
    Daily Pivot Point R2 178.11
    Daily Pivot Point R3 185.92

    ETH/USD

    Overview
    Today last price 161.02
    Today Daily Change 2.77
    Today Daily Change % 1.75
    Today daily open 158.11
     
    Trends
    Daily SMA20 143.51
    Daily SMA50 174.62
    Daily SMA100 181.66
    Daily SMA200 173.06
     
    Levels
    Previous Daily High 170.3
    Previous Daily Low 152.48
    Previous Weekly High 176.48
    Previous Weekly Low 140.8
    Previous Monthly High 252.76
    Previous Monthly Low 89.65
    Daily Fibonacci 38.2% 159.29
    Daily Fibonacci 61.8% 163.49
    Daily Pivot Point S1 150.3
    Daily Pivot Point S2 142.48
    Daily Pivot Point S3 132.48
    Daily Pivot Point R1 168.11
    Daily Pivot Point R2 178.11
    Daily Pivot Point R3 185.92

    ETH/USD

    Overview
    Today last price 161.02
    Today Daily Change 2.77
    Today Daily Change % 1.75
    Today daily open 158.11
     
    Trends
    Daily SMA20 143.51
    Daily SMA50 174.62
    Daily SMA100 181.66
    Daily SMA200 173.06
     
    Overview
    Today last price 161.02
    Today Daily Change 2.77
    Today Daily Change % 1.75
    Today daily open 158.11
    Overview Overview Overview Today last price 161.02 Today Daily Change 2.77 Today Daily Change % 1.75 Today daily open 158.11 Today last price 161.02 Today last price161.02161.02 Today Daily Change 2.77 Today Daily Change2.772.77 Today Daily Change % 1.75 Today Daily Change %1.751.75 Today daily open 158.11 Today daily open158.11158.11
     
    Trends
    Daily SMA20 143.51
    Daily SMA50 174.62
    Daily SMA100 181.66
    Daily SMA200 173.06
    Trends Trends Trends Daily SMA20 143.51 Daily SMA50 174.62 Daily SMA100 181.66 Daily SMA200 173.06 Daily SMA20 143.51 Daily SMA20143.51143.51 Daily SMA50 174.62 Daily SMA50174.62174.62 Daily SMA100 181.66 Daily SMA100181.66181.66 Daily SMA200 173.06 Daily SMA200173.06173.06
     
    Levels
    Previous Daily High 170.3
    Previous Daily Low 152.48
    Previous Weekly High 176.48
    Previous Weekly Low 140.8
    Previous Monthly High 252.76
    Previous Monthly Low 89.65
    Daily Fibonacci 38.2% 159.29
    Daily Fibonacci 61.8% 163.49
    Daily Pivot Point S1 150.3
    Daily Pivot Point S2 142.48
    Daily Pivot Point S3 132.48
    Daily Pivot Point R1 168.11
    Daily Pivot Point R2 178.11
    Daily Pivot Point R3 185.92
    Levels
    Previous Daily High 170.3
    Previous Daily Low 152.48
    Previous Weekly High 176.48
    Previous Weekly Low 140.8
    Previous Monthly High 252.76
    Previous Monthly Low 89.65
    Daily Fibonacci 38.2% 159.29
    Daily Fibonacci 61.8% 163.49
    Daily Pivot Point S1 150.3
    Daily Pivot Point S2 142.48
    Daily Pivot Point S3 132.48
    Daily Pivot Point R1 168.11
    Daily Pivot Point R2 178.11
    Daily Pivot Point R3 185.92
    Levels Levels Levels Previous Daily High 170.3 Previous Daily Low 152.48 Previous Weekly High 176.48 Previous Weekly Low 140.8 Previous Monthly High 252.76 Previous Monthly Low 89.65 Daily Fibonacci 38.2% 159.29 Daily Fibonacci 61.8% 163.49 Daily Pivot Point S1 150.3 Daily Pivot Point S2 142.48 Daily Pivot Point S3 132.48 Daily Pivot Point R1 168.11 Daily Pivot Point R2 178.11 Daily Pivot Point R3 185.92 Previous Daily High 170.3 Previous Daily High170.3170.3 Previous Daily Low 152.48 Previous Daily Low152.48152.48 Previous Weekly High 176.48 Previous Weekly High176.48176.48 Previous Weekly Low 140.8 Previous Weekly Low140.8140.8 Previous Monthly High 252.76 Previous Monthly High252.76252.76 Previous Monthly Low 89.65 Previous Monthly Low89.6589.65 Daily Fibonacci 38.2% 159.29 Daily Fibonacci 38.2%159.29159.29 Daily Fibonacci 61.8% 163.49 Daily Fibonacci 61.8%163.49163.49 Daily Pivot Point S1 150.3 Daily Pivot Point S1150.3150.3 Daily Pivot Point S2 142.48 Daily Pivot Point S2142.48142.48 Daily Pivot Point S3 132.48 Daily Pivot Point S3132.48132.48 Daily Pivot Point R1 168.11 Daily Pivot Point R1168.11168.11 Daily Pivot Point R2 178.11 Daily Pivot Point R2178.11178.11 Daily Pivot Point R3 185.92 Daily Pivot Point R3185.92185.92

     

     

    From: FXSTREET