- ETH/USD recovered strongly ahead of Constantinople.
- Critical resistance lies with $140.00.
ETH/USD is changing hands at $137.70 off the high intraday set at $139.95. The second largest digital coin with a market value of $14.3B has gained over 11% since this time on Sunday and became the growth leader of the day.
Moreover, an average daily trading volume catapulted to over $5B from a little over $3B on Saturday. The coin is most actively traded at Bitfinex and Ethfinex with volatility close to a monthly peak.
Upcoming Constantinople updated is among the reasons that might have triggered strong ETH growth. As we reported earlier, Vitalik Buterin and lead ETH developers rejected the severity of the bug revealed in the recent version of the protocol. The update is scheduled on February 27.
ETH/USD daily confluence detector
ETH/USD daily confluence detector reveals several support areas below the current price:
$136.60-70 – This is the first support created by the previous 4h low, SMA10 1-hour and previous daily high.
$132.50 – A stronger support, built by the upper boundary of 1-day Bollinger Band and the mid-line of 1-hour Bolliger Band as well as Pivot Point 1-week Resistance 2.
$125.70-50 – DMA100, SMA50 1-hour, SMA200 15-min, the highest level of the previous week.
$124.50 – ultimate support created by DMA50, DMA5 and 23.6% Fibo retracement weekly
On the upside, the confluence detector reveals a couple of resistance zone:
$140.00 – This psychological area is strengthened by the highest level of the previous 4-hour and 61.8% Fibo retracement 1-month.
$145.70 – Pivot Point 1-month Resistance 1.