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ETH / USD: technical analysis of the course, February 16-17, 2019

During the current session, the price of ethereum is restored, but the pressure of the bulls is not strong enough to break the resistance at a key level of $ 126.00.

Four hour ETH / USD chart

At the time of the market review, the ETH / USD pair is testing resistance at $ 122.00. Against the mark of the opening of trading on February 16, $ 120.40 ethereum showed an increase of 1.8%.

The nature of the movement of the coin price indicates the advantage of sellers. The EMA30 moving average maintains the current cryptocurrency price, and the direction of the indicator line confirms the stability of the short-term uptrend of the ETH / USD pair.

February 16 ETHUSD H4
February 16 ETHUSD H4

The values of the relative strength index are kept in the shopping area, but the RSI14 line tends to turn upwards, which can be regarded as an early signal of customer depletion. It is assumed that having reached $ 123.40 at the level of local price highs, ETH / USD quotes may fall back to a dynamic support level of $ 120.20.

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