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Ethereum Technical Analysis: ETH/USD the bulls are brought back to life, but must breakout from range-block

  • Ethereum holding gains over 6.5% into the afternoon on Monday, thanks to a pick up across the market.  
  • ETH/USD bulls make a breakout to the upside from a near-term range-block, as seen on the 15-minute.  
  • Upside capped for now by the high area seen between 12-13 December.  

 

ETH/USD 15-minute chart
 

 

Spot rate:                   90.85

Relative change:       +6.55%

High:                          92.36

Low:                           85.10

 

 

Trend:                         Bullish

 

Resistance 1:              91.70, high area 12-13 December.

Resistance  2:              92.09, daily pivot point resistance.  

Resistance  3:              97.00, upper part of range block.  

Support 1:                   83.58, daily pivot point support.

Support 2:                   81.75, daily pivot point support.

Support 3:                   79.33, daily pivot point support.

 

ETH/USD 60-minute chart

  • Upside capped for now at high area seen between 12-13 December.  

ETH/USD 4-hour chart

  • Bulls will need to chop down $97 area, for greater upside and to see a fast move back well into $100 territory.  

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