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ETH/USD daily confluence detector shows lack of support levels

  • ETH/USD price fell from $139 to $138 as the Tuesday session opened.
  • Daily confluence detector shows two strong levels of resistance at $142 and $146 with no significant levels of support.

ETH/USD’s price fell from $139 to $138 as the bears dominated the Tuesday opening session. Ethereum holders will be worried about the fact that the daily confluence detector shows no significant lines of support. Two strong resistance levels lie at $142 and $146.

ETH/USD daily confluence detector

Two strong resistance levels lie at $142 and $146. Confluences at those levels are as follows:

  • $142: Daily 23.6% Fibonacci retracement level and weekly 38.2% Fibonacci retracement level.
  • $146: Weekly 23.6% Fibonacci retracement level, 50-day simple moving average (SMA 50), SMA 200, and monthly pivot point resistance level one.

The only moderately strong support line is at $124 and the confluence there is the SMA 50 curve.
 

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