ETH/USD has resumed growth after a sell-off towards 1-hour SMA50. The pivotal resistance is created by the broken trendline. Ethereum (ETH) is changing hands at $214.20, mostly unchanged since the beginning of the day. The coin has recovered from the intraday low of $209.22, but further upside seems to be limited so far. Ethereum’s daily trading volume has exceeded $14.5 billion, while its total market value reached $29 billion. ETH/USD: Technical picture On the intraday charts, 1-hour SMA50 serves as initial support for ETH/USD. The price recovered from this MA during early Asian hours and moved above the middle line of the 1-hour Bollinger Band. The second-largest digital asset is moving within the short-term bullish trend in sync the market. An upside-looking RSI signals that the bullish sentiments may increase in the nearest future and help the price to reach the above-said short-term target. On the downside, the initial support is created by 1-hour SMA50 at $211.00. If it is broken, the sell-off may continue towards $205.50 (1-hour SMA100) and psychological $200.00 with 1-hour SMA200 located below this area. ETH/USD 1-hour chart However, the local resistance created by the previous recovery high at $215.50 prevents the coin from an extended upside movement towards $217.00 and $220.00. The vital resistance comes at $222.50. It is created by a combination of the broken trendline and the upper line of the daily Bollinger Band. A sustainable move above this area will signal the return of the upside momentum. ETH/USD daily 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 bulls looking to extend the momentum beyond 50-day SMA FX Street 2 years ETH/USD has resumed growth after a sell-off towards 1-hour SMA50. The pivotal resistance is created by the broken trendline. Ethereum (ETH) is changing hands at $214.20, mostly unchanged since the beginning of the day. The coin has recovered from the intraday low of $209.22, but further upside seems to be limited so far. Ethereum’s daily trading volume has exceeded $14.5 billion, while its total market value reached $29 billion. ETH/USD: Technical picture On the intraday charts, 1-hour SMA50 serves as initial support for ETH/USD. The price recovered from this MA during early Asian hours and moved above the middle line… Top 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.
