ETH/USD retraces from the recent high amid low trading activity. The correction may be extended towards $169.00. ETH/USD is hovering above $173.00 after Thursday’s move towards $176.60 handle. The second largest digital asset with the market value of $18.2 billion is mostly unchanged both on a day-on-day basis and since the beginning of Friday. Low trading activity due to holidays in many countries keeps the volatility at bay. Ethereum’s technical picture On intraday charts, ETH/USD is trading well above all moving averages with the initial support created by psychological $170.00. Once it is out of the way, the sell-off may be extended towards a stronger barrier created by a combination of SMA100 (4-hour) and a middle line of 4-hour Bollinger Band at $169.00. If ETH bears manage to clear this hurdle, $166.50-$166.30 are will come into view. A confluence of SMA50 (4-hour), SMA200 (1-hour) and 38.2% Fibo retracement is likely to stop the downside for the time being. On the upside, the recovery is effectively capped by 38.2% Fibo retracement at $174.40. A sustainable move higher will take the price towards Thursday’s high at $176.60 and to $180.00. ETH/USD, 4H 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 GBP/USD lifeless around 1.30, what will be the next catalyst? FX Street 4 years ETH/USD retraces from the recent high amid low trading activity. The correction may be extended towards $169.00. ETH/USD is hovering above $173.00 after Thursday's move towards $176.60 handle. The second largest digital asset with the market value of $18.2 billion is mostly unchanged both on a day-on-day basis and since the beginning of Friday. Low trading activity due to holidays in many countries keeps the volatility at bay. Ethereum's technical picture On intraday charts, ETH/USD is trading well above all moving averages with the initial support created by psychological $170.00. Once it is out of the way, the sell-off may… 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.
