Bulls in the market of ethrium hold important technical levels for the development of an uptrend in the short term.
Four hour ETH / USD chart
At the close of trading on ethereum on February 10, the bulls updated its local maximum of $ 122.00 from February 8 on a strong upward impulse to the price and fixed a new maximum at $ 125.30.
Despite the rollback of ETH / USD quotes from the session extremum, from the point of view of technical analysis, the bulls took a favorable position for the development of the uptrend in the medium term, as they consolidated above the previous upper limit of the $ 118.80 correction range. At the time of the market review, the cryptoactive asset is trading at $ 120.00.
The ETH / USD pair is trading above the pivot and the moving average EMA200, the value of the relative strength index is high in the buying area and the RSI14 line is directed upwards.
The data of technical indicators point to the potential that has remained with buyers of the etrium, both to contain sales pressure and to try to break through the bears at a key resistance level of $ 126.00.