Ethereum Technical Analysis: ETH/USD defends $236 and looks to continue with its daily uptrend
|- ETH/USD defended the daily 12-EMA at $236.16.
- The uptrend is intact and bulls are looking for the next leg up.
Ethereum had a nice bull break on July 6 and continuation two days later. It is now under some healthy consolidation waiting for the next leg up above $249 and $250.
ETH/USD daily chart
-637299959709080137.png){kind=link}
As mentioned above, the daily uptrend is still in play with bulls defending the 12-EMA. Even if the support level is broken, the 26-EMA at $233.38 should also act as support. The most crucial level to hold is $223.31, the low of the uptrend.
ETH/USD 4-hour chart
Unfortunately, the 4-hour uptrend was lost but the 26-EMA is currently being defended. More support levels can be found at $235.56 and $234.62. The $230 psychological level should also be a strong support point for bulls.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.