Ethereum bounces off the gradually ascending trendline support. Consolidation sets in above $175 following the recovery from the 23.6% Fib level. Ethereum is bullish on Monday as we inch closer to the end of the Asian session. The intraday chart rates display high volatility levels and a strongly bullish trend. The ongoing action emanates from the support at the 23.6% Fibonacci retracement level with the last swing high of $224.94 to a swing low of $152.50. This short-term support has been very instrumental especially in stopping the downtrend resumed after Ethereum hit a snag at the 61.8% Fib level (just below $200). The weekend recovery saw Ether make an impressive advance to $180. However, the upside was capped at $177 aided by the 50 Simple Moving Average (SMA) on the four-hour chart. The Relative Strength Index (RSI) in the same one-hour range hints a possible reversal. The RSI had recovered above 50 but failed to hit levels past 56. The widening gap between the 50 SMA and the 100 SMA puts emphasis on the growing bears’ grip. The 38.2% Fib level is a barrier that must be cleared in order to allow focus on higher levels heading to $200. ETH/USD one-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/JPY technical analysis: Clings to 50% Fibo. below 200-day SMA FX Street 3 years Ethereum bounces off the gradually ascending trendline support. Consolidation sets in above $175 following the recovery from the 23.6% Fib level. Ethereum is bullish on Monday as we inch closer to the end of the Asian session. The intraday chart rates display high volatility levels and a strongly bullish trend. The ongoing action emanates from the support at the 23.6% Fibonacci retracement level with the last swing high of $224.94 to a swing low of $152.50. This short-term support has been very instrumental especially in stopping the downtrend resumed after Ethereum hit a snag at the 61.8% Fib level (just… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
