Home Ethereum Price Analysis: ETH/USD continues to move up after bouncing straight off the $125-level
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Ethereum Price Analysis: ETH/USD continues to move up after bouncing straight off the $125-level

FX Street
Updated:
  • ETH/USD crept up above the downward trending line this Friday.
  • The Elliott Oscillator has had a red session following six straight green sessions.

ETH/USD daily chart

ETH/USD daily chart

Following three straight bearish days, the ETH/USD bulls managed to gain an advantage this Thursday and have remained so this Friday. After bouncing off the $125 support level, ETH/USD is currently hovering around $126 and has crept above the resistance provided by the downward trending line. The Elliott Oscillator has had a red session following six straight green sessions, while the Moving Average Convergence/Divergence (MACD) indicates a reversal of bearish momentum. The Relative Strength Index (RSI) indicator is trending around 36.55, next to the oversold zone, indicating that the price may fall a bit more before it goes back up.
 

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