Ethereum Price Analysis: ETH bulls catch a breather below $1,800, upside bias still intact


  • ETH/USD flirts with the previous day’s record top, consolidates off-late.
  • Bullish channel, MACD favor buyers targeting a move towards $2,000.
  • RSI conditions join immediate resistance to challenge the bulls.

ETH/USD wavers around the mid-1,700s during early Tuesday. In doing so, the altcoin teases the record high of $1,780, flashed the previous day, inside the one-month-old rising channel.

Not only the bullish chart pattern but upbeat MACD and news from the Stablecoin Printer, suggesting that the Tether Printer just coined $1,000,000,000 USDT to mark the total supply of $31,008,167,441, also favor the ETH/USD buyers.

However, an ascending trend line from the last Friday, at $1,787 now, precedes the $1,800 round-figure to guard the quote’s immediate upside.

Also acting as the key hurdle is the upper line of the stated rising channel, currently around $1,825.

Meanwhile, 10-day SMA and 21-day SMA, respectively near $1,600 and $1,445, will entertain the short-term ETH/USD sellers during the cryptocurrency pair’s pullback.

Even if the ETH/USD drops below $1,445, the support line of the channel, at $1,405 now, followed by the $1,400 round-figure, should become the key for the traders as a downside break of which will raise barriers for the current bullish trend.

ETH/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price 1744.6
Today Daily Change -8.38
Today Daily Change % -0.48%
Today daily open 1752.98
 
Trends
Daily SMA20 1430.38
Daily SMA50 1150.62
Daily SMA100 841.1
Daily SMA200 609.05
 
Levels
Previous Daily High 1780
Previous Daily Low 1565.98
Previous Weekly High 1763.93
Previous Weekly Low 1271.31
Previous Monthly High 1477.3
Previous Monthly Low 715.22
Daily Fibonacci 38.2% 1698.24
Daily Fibonacci 61.8% 1647.74
Daily Pivot Point S1 1619.31
Daily Pivot Point S2 1485.63
Daily Pivot Point S3 1405.29
Daily Pivot Point R1 1833.33
Daily Pivot Point R2 1913.67
Daily Pivot Point R3 2047.35

 

 


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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Polygon joins forces with WSPN to expand stablecoin adoption

Polygon joins forces with WSPN to expand stablecoin adoption

WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.

More Cryptocurrencies News
Coinbase envisages listing of more meme coins amid regulatory optimism

Coinbase envisages listing of more meme coins amid regulatory optimism

Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.

More Crypto News
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.

More Bitcoin News
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.

More Shiba Inu News
Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week. 

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP