Analysis Editor's Picks

ETH/USD: technical analysis course, 3-4 January 2019

Keep the price Ethereum above a dynamic support level $146,20 the bulls will retain the potential for development of ascending movement of the price of scriptactive.

The four-hour chart the ETH/USD

From the first day of the current trading week on expectations of fundamental changes in Ethereum the bulls were able to develop the upside movement of the pair of ETH/USD pair to the level price of $156,70.

However, to break the resistance at the first key level of $154,90 buyers need consolidation of additional volumes, as is evident from the price movement of scriptactive during the current session.

3 января ETHUSD H4
3 Jan ETHUSD H4

The lower level of short-term upside correction of the course is formed at the dynamic level of the moving average line with a short period – EMA14, prices are $146,20. The bulls will retain the future development of growth rates at least up to $166,00, if they can keep the price above the indicated dynamic level of support.

At the time of the review of the market marked a sharp increase in volumes of open short positions and their future development will increase the probability of a price breakout below $146,20.

With the development of the bearish scenario in the market Ethereum couple quotes ETH/USD will fall to the level of the medium-term trend reversal at $137.00 handle.

For the situational advantage the bulls indicated by the data of relative strength index: the indicator values remain in the purchase line RSI14 crosses upwards the border with the region of active purchases, which in turn gives a signal of the completion of the retracement price ETH.

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