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Ethereum Technical Analysis: ETH/USD rangebound below $450

  • Quiet day in the cryptosphere  doesn’t allow the ETH/USD pair to make sharp moves in either direction.
  • $400 stays as the next critical support ahead of YTD lows.
  • The RSI’s recovery to 40 on the daily chart is not enough to suggest a deep recovery.

ETH/USD daily chart

Spot rate:                   438.20

Relative change:         +1.7%

High:                            442.30

Low:                             429.35

 

Trend:                        Bearish

 

Support 1:                  400 (Jun. 29 low/end point of May 5 – June 29 doıwntrend).

Support 2:                  360 (2018 low).    

Support 3:                  300 (psychological level/horizontal support from Nov. 2017).    

Resistance  1:             455 (20-DMA).

Resistance 2:             500/505 (psychological level/Fibo. 23.6% retracement of May 5 – June 29 downtrend).

Resistance 3:             570 (Fibo. 38.2% retracement of May 5 – June 29 downtrend).  

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