ETH/USD picks up bids near intraday high, extends Sunday’s bounce off one-month low. 21-day SMA, previous support line from late-December and 23.6% Fibonacci retracement guard immediate upside. Bears will have a bumpy road on their return. Ethereum bulls are in full swing while attacking the $1,600 level, currently up 1.77% intraday near $1,595, amid initial Thursday. In doing so, the altcoin extends recovery moves from a one-month low, marked on Sunday. Also favoring the ETH/USD bulls could be the receding bearish bias shown by the MACD as well as sustained trading beyond key Fibonacci retracement levels of late-December 2020 to February 20, 2021, upside. However, a convergence of 21-day SMA, a 10-week-old previous support line and 23.6% Fibonacci retracement will test the bulls around $1,700 before giving them a go to the $2,000 threshold. If at all the ETH/USD fades upside momentum below $1,700, it risks declining back to 50% Fibonacci retracement level of $1,300 and then to the $1,120 level comprising 61.8% of Fibonacci retracement. Also acting as a downside filter is the mid-January low near $980 and the $1,000 psychological magnet. Overall, Ethereum bulls are rolling their sleeves for a fresh record high but need to validate their strength. ETH/USD daily chart Trend: Bullish 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/CNY fix: 6.4758 vs prev fix 6.4565 and prev close 6.4682 FX Street 1 year ETH/USD picks up bids near intraday high, extends Sunday's bounce off one-month low. 21-day SMA, previous support line from late-December and 23.6% Fibonacci retracement guard immediate upside. Bears will have a bumpy road on their return. Ethereum bulls are in full swing while attacking the $1,600 level, currently up 1.77% intraday near $1,595, amid initial Thursday. In doing so, the altcoin extends recovery moves from a one-month low, marked on Sunday. Also favoring the ETH/USD bulls could be the receding bearish bias shown by the MACD as well as sustained trading beyond key Fibonacci retracement levels of late-December 2020 to… 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.