ETH/USD Technical Analysis: Golden cross incoming

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ETH/USD Daily Chart

  • ETH/USD is currently priced at $167 as markets opened this Thursday.
  • The bulls will look to breach the $170 resistance line after they failed to do so this Sunday.
  • The SMA 200 and SMA 50 curves are looking to converge and chart the golden cross pattern, which is a strong bullish sign.
  • The relative strength index (RSI) indicator is trending around 57.80.

ETH/USD 4-Hour Chart

  • The 20-day Bollinger band is widening in the 4-hour chart, which indicates increasing market volatility.
  • The market is currently trending horizontally.
  • The 4-hour market is also sandwiched between the SMA 50 and SMA 20 curves.
  • The three latest sessions of the Elliot Wave Oscillator are bearish.

ETH/USD Hourly Chart

  • The hourly ETH/USD was trending in the green cloud of the Ichimoku indicator before it had a bullish breakout.
  • The market has also found support on the upward trending line
  • The signal line is trending close to the MACD line which indicates decreasing bearish momentum.

Key Levels

 

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