Analysis Editor's Picks

ETH / USD: technical analysis of the course, March 7-8, 2019

Bulls in the market of ethereum consolidate volumes to break through the key resistance level of $ 138.20.

Four-hour chart pair ETH / USD

At the time of the market review, ETH / USD is quoted at $ 136.60. Ethirium sessional price maximum is fixed at $ 139.68, in Asian trading session of the current session.

Analysis of the four-hour chart shows that bulls formed support for the cryptoactive price at a dynamic level along the short moving average EMA14 with the current value of $ 135.40.

March 7 ETHUSD H4
March 7 ETHUSD H4

The values of the relative strength index are retained in the field of purchases, the indicator line has a weakly pronounced upward trend, which indicates the advantage of Ethereum buyers in the short-term cryptocurrency market.

It is assumed that before the end of the current trading session, the bulls will test sales resistance at a key level of $ 138.20. At the ETH / USD auction on March 8, a sharp increase in the volume of purchases is possible with the pair’s quotes above the indicated level.


Related posts

IMF: Cryptocurrency threatens the stability of the banking system


The Government of Chile submits to Congress a new bill on cryptocurrency and fintech regulation


FTX Debtors Reach Landmark Settlement with Customers over Property Disputes