Home Ethereum Price Analysis: Looking into the ETH/USD and ETH/BTC daily charts as bearish correction begins
Crypto News

Ethereum Price Analysis: Looking into the ETH/USD and ETH/BTC daily charts as bearish correction begins

FX Street
Updated:
  • ETH/USD had flown up from $152.85 to $172.58 this Thursday.
  • ETH/BTC lost momentum at the 0.0243 resistance level.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD faced a bearish start to the day following an overtly bullish Thursday. The price has gone down slightly from $172.58 to $171.69 and is currently facing resistance at the downward trending line and the SMA 200 curve. This Thursday, ETH/USD broke past the SMA 50 during its ascent from $152.85 to $172.58. The Elliott Oscillator has had two green sessions following two straight red sessions.

ETH/BTC daily chart

ETH/BTC daily chart

ETH/BTC bounced off the red Ichimoku cloud and went up from 0.023 to 0.0243 this Thursday, breaking above the pennant structure, in the process. This breakout was an early indicator of the crypto market’s overall bullish movement this Thursday. Currently, tt looks like the bulls have run out of steam near the 0.0243 level as ETH/BTC has dropped a bit to 0.0242. The RSI indicator is trending horizontally around 67.27, next to the overbought zone.

Key levels

 

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.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024