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Ethereum Technical Analysis: ETH/USD trying to stay above $230 and daily EMAs

FX Street
Updated:
  • ETH/USD is currently trading at $229.68 trying to close above the daily 12-EMA.
  • Ethereum’s buyers will not encounter many resistance levels towards $250 if the bullish momentum continues. 

Ethereum briefly dropped to $226.88 but recovered and it’s currently fighting to stay above the 12-EMA at $229.90 and the 26-EMA at $230.13. Closing above both EMAs is crucial and could signify another bull cross for both indicators.

ETH/USD daily chart

ethusd

Although Ethereum has been trading inside a daily downtrend for a few days now, bulls will not find a lot of resistance towards the high at $253.47. Besides the current daily EMAs and the high of $232.80 established on July 1, the way is clear. 

As for support, ETH/USD has some support at $224.21, the low established on June 1 followed by the low on June 15 at $218.14 and the last low at $216.37. There is a good amount of support towards $210.

ETH/USD technical levels

 

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