Ethereum Technical Analysis: ETH/USD bulls have the wind behind them for further upside

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  • Ethereum price trading in the green on Wednesday, modest gains just sy of 0.70%.
  • ETH/USD has been storming higher, since the break above a descending trend line, that was containing the price. 
  • Next big hurdle for the bulls is to break down the $230 price territory, It has not been out of this area since 24th September.

 

 

ETH/USD 4-hour chart 

 
 

Spot rate:                  221.01

Relative change:      +0.67%

High:                         223.79

Low:                          217.33

 

Trend:                       Bullish

 

Resistance 1:           227.28, 61.8% Fibonacci.

Resistance 2:           231.92, 5 & 15 October high. 

Resistance 3:           235.54, daily pivot point resistance.

Support 1:                219.63,50% Fibonacci. 

Support 2:                204.04, daily pivot point support. 

Support 3:                199.91, daily pivot point support.

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