ETH/USD Technical Analysis: ETH/USD trades for $140 as more growth is expected

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ETH/USD daily chart

  • ETH/USD daily chart is currently consolidating before getting ready for a breakout.
  • Immediate resistance for the bulls lies at $142.
  • Moving average convergence/divergence shows slight bullish momentum.

ETH/USD 4-hour chart

  • ETH/USD 4-hour chart is trending above 20-day simple moving average (SMA 20), SMA 50, and SMA 200 which is a bullish sign.
  • Even though the last session was bearish, it was trending close to the upper curve of the 20-day Bollinger band.
  • The Bollinger band’s narrowing shows that market is decreasing in volatility.

ETH/USD hourly chart

  • The ETH/USD hourly chart was consolidating inside the green cloud of the Ichimoku indicator before it underwent a bearish breakthrough.
  • Despite that one bearish movement, the Elliot wave histogram shows an increasing bullish momentum.

Key Levels

  • Resistance 3: $145.78
  • Resistance 2: $143.27
  • Resistance 1: $141.76
  • Pivot Point: $139.25
  • Support 1: $137.73
  • Support 2: $135.22
  • Support 3: $133.71

 

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