- Attempts to recoil higher have been rendered unsuccessful at the 61.8% Fib retracement level.
- CNBC reports that Steve Wozniak to have said that Ethereum could outlive the current hype.
- The moving averages are presenting a couple of resistance areas for Ethereum.
Ethereum price is still range-bound after falling victim to the declines since last week. The crypto is now limited below $450 but it is also supported above $425. Attempts to recoil higher have been rendered unsuccessful at the 61.8% Fib retracement level with the last high leg at $478 and a low of $420.5. Ethereum price trend is down 1.43% on the day while the trend is generally bearish.
In his latest comments, Apple’s co-founder Steve Wozniak compares the blockchain technology to the dotcom era. He further says that just like the dot-com, it will take time for digital assets to realize their potential. He, however, believes that Ethereum is at the helm of innovation and is here for the long term. CNBC reports that Steve Wozniak to have said that Ethereum could outlive the current hype and achieve more in terms of allowing programmers the opportunity of building-related projects.
Technically, the moving averages are presenting a couple of resistance areas for Ethereum. The 200 SMA has the first resistance highlighted at $438.5 while the shorter term 50 SMA shows the second upper resistance area at $441.1.The 38.2% Fibonacci level is another key resistance zone at $450. ETH/USD is currently making bullish attempts slightly above $435, besides the stochastic RSI indicator is sending strong bullish signals for the short-term. The buyers have formed an intraday support at $430, but another support was created recently at $425.
ETH/USD 15′ chart
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