Ethereum keeps bouncing off the short-term ascending trendline. The RSI suggests that the bulls will continue to nurture the gradual uptrend. Ethereum is creeping higher on Friday after enduring some really rough waters in the past couple of days. The losses that gripped the crypto led to overarching declines below several support areas including $170 and $160. The bearish action proceeded under $155 but formed a low at $153.28. The struggle to secure higher ground has been real for the bulls. However, the Ethereum currently teeters within an ascending channel. Moreover, Ethereum has broken above the descending trendline resistance. While ETH/USD is trading at $161.98 its immediate upside limited by the 50 Simple Moving Average (SMA) on the one-hour chart. The push to step on higher grounds above $170 will have to deal with the resistance at the 100 SMA currently at $168.17. The Relative Strength Index (RSI) at 50 is gradually slopping upwards. The RSI has been keen on forming a higher low pattern since the recent dip to 16. Movement toward 70 is bound to encourage more buying entries which are likely to boost ETH above $170. 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 EUR/USD: On the defensive, eyes German IFO FX Street 3 years Ethereum keeps bouncing off the short-term ascending trendline. The RSI suggests that the bulls will continue to nurture the gradual uptrend. Ethereum is creeping higher on Friday after enduring some really rough waters in the past couple of days. The losses that gripped the crypto led to overarching declines below several support areas including $170 and $160. The bearish action proceeded under $155 but formed a low at $153.28. The struggle to secure higher ground has been real for the bulls. However, the Ethereum currently teeters within an ascending channel. Moreover, Ethereum has broken above the descending trendline resistance. While… 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.
