ETH/USD extended its weekly rally after closing flat on Friday. Sharp upsurge on Saturday is lifting the daily RSI toward 70. After trading in a relatively tight range and closing virtually unchanged near $220, Ethereum (ETH/USD) gained traction on Saturday and advanced to its highest level since March 8th at $234.28. As of writing, the pair was trading at $232, up 5.33% on a daily basis. With this latest upsurge, Ethereum is now gaining more than 16% since the start of the week. Technical outlook The Relative Strength Index (RSI) indicator on the daily chart is approaching 70, suggesting that Ethereum could struggle to preserve its bullish momentum and stage a technical correction in the near-term. Nevertheless, ETH/USD is likely to remain bullish as long as it closes the week above $227 (April 30 high). Above that level, a static resistance aligns at $245 ahead of $250-$252 area (psychological level/March 7 high). On the other hand, $220 (daily low) could be seen as the first technical support before $206 (20-day SMA) and $200 (psychological level). 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 Ripple Price Analysis: XRP/USD trades at fresh 10-day highs above $0.20 FX Street 3 years ETH/USD extended its weekly rally after closing flat on Friday. Sharp upsurge on Saturday is lifting the daily RSI toward 70. After trading in a relatively tight range and closing virtually unchanged near $220, Ethereum (ETH/USD) gained traction on Saturday and advanced to its highest level since March 8th at $234.28. As of writing, the pair was trading at $232, up 5.33% on a daily basis. With this latest upsurge, Ethereum is now gaining more than 16% since the start of the week. Technical outlook The Relative Strength Index (RSI) indicator on the daily chart is approaching 70, suggesting that Ethereum… 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.
