Analysis Editor's Picks

ETH/USD: technical analysis course, January 8-9, 2019

There is a high probability of breakdown of the support price of Ethereum on the key level of $148,30.

The four-hour chart the ETH/USD

At the time of the market review Ethereum is trading at $149,20 with the reduction from session high price at $152,90.

Do the bulls have confirmed the support of a pair of ETH/USD on reversal level trend $148,30, but before the end of the day possible bearish price breakout below the key level. On the likelihood of near-term downside price movements indicated by the data of technical indicators:

  • moving average EMA14 above the current price, the line of the trend indicator is pointing towards the reduction of quotations;
  • the value of the index relative strength in sales and the line RSI14 is pointing down.
8 января ETHUSD H4
8 Jan ETHUSD H4

From the technical point of view, to cancel the bearish scenario, bulls need to overcome the resistance at the dynamic level, $151,20 and hold quotes a pair of ETH/USD above the local support level of $154,00.

In turn, the bears, after a breakout of pivot point will open a scope for the reduction of quotations of the pair at least to a high level of support and resistance of $140,00.

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