Ethereum Price Analysis: ETH/USD consolidates weekly gains near $440

ETH/USD rose impressively in the second half of the week.
Ethereum seems to have gone into a consolidation on Saturday.
Daily RSI stays above 70, pointing out to a technical correction in near-term.

Ethereum (ETH/USD) staged an impressive rally from Wednesday and gained nearly 15% in the previous three days to touch its highest level in more than two years at $445 on Friday. With the trading action in the cryptocurrency market turning subdued on Saturday, Ethereum is consolidating its gains and was last seen losing 0.4% on the day at $437.

Ethereum technical outlook

During Thursday's sharp upsurge, the RSI indicator on the daily chart rose above 70 and stayed there as Ethereum continued to add to its gains on Friday. In the near-term, ETH/USD could make a technical correction before trying to renew its two-year highs.

On the downside, $427 (daily low) aligns as the initial support before $400 (psychological level) and $380 (20-day SMA). Resistances are located at $445 (two-year high), $480 (July 2018 static resistance) and $500 (psychological level).

Ethereum daily chart

Additional levels to consider

ETH/USD

Overview
Today last price	437.52
Today Daily Change	-1.14
Today Daily Change %	-0.26
Today daily open	438.66

Trends
Daily SMA20	373.81
Daily SMA50	294.12
Daily SMA100	258.38
Daily SMA200	224.24

Levels
Previous Daily High	444.78
Previous Daily Low	417.91
Previous Weekly High	444.78
Previous Weekly Low	365.72
Previous Monthly High	349.55
Previous Monthly Low	223.32
Daily Fibonacci 38.2%	434.51
Daily Fibonacci 61.8%	428.17
Daily Pivot Point S1	422.78
Daily Pivot Point S2	406.91
Daily Pivot Point S3	395.91
Daily Pivot Point R1	449.65
Daily Pivot Point R2	460.65
Daily Pivot Point R3	476.52

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