Tanya Abrosimova
Independent Analyst
- ETH/USD has been moving in a tight range with bearish bias on Sunday.
- An important resistance is created by psychological $130.00.
Ethereum, the second-largest digital asset with the current market value of $14.2 billion, attempted a recovery above $133.00 before retreating below psychological $130.00. The coin has been mostly range-bound during the day after a sell-off late on Friday.
ETH/USD: Technical picture
On the intraday charts, ETH/USD recovery is capped by the middle line of 1-hour Bollinger Band currently at $129.60. It is closely followed by psychological $130.00 and SMA50 1-hour at $130.70. Once the price clears this area, the upside momentum is likely to gain traction with the next focus on $131.60 (the upper line of 1-hour Bollinger Band) and $133.30, which is the highest level reached on Saturday.
On the downside, the first support is created by the lower line of 1-hour Bollinger Band at $128.00. Once it is out of the way, the sell-off is likely to gain traction with the next focus on Saturday's low of $125.00 and psychological $120.00
ETH/USD 1-hour chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: Slow but positive start
Bitcoin edges slightly lower, trading around $96,500 on Friday after an over 2.5% recovery this week, with historical data showing modest average January returns of 3.35%. On-chain metrics suggest the bull market remains intact, indicating a cooling-off phase rather than a cycle peak.
Stellar bulls aim for double-digit rally ahead
Stellar extends its gains, trading above $0.45 on Friday after rallying more than 32% this week. On-chain data indicates further rally as XLM’s Open Interest and Total Value Locked rise. Additionally, the technical outlook suggests a rally continuation projection of further 40% gains.
BTC, ETH and XRP eyes for a rally
Bitcoin’s price finds support around its key level, while Ethereum’s price is approaching its key resistance level; a firm close above it would signal a bullish trend. Ripple price trades within a symmetrical triangle on Friday, a breakout from which could signal a rally ahead.
Could XRP surge to new highs in January 2025? First two days of trading suggest an upside bias
Ripple's XRP is up 7% on Thursday, extending its rally that began during the New Year's Day celebration. If long-term holders (LTH) continue their recent accumulation, XRP could overcome the $2.9 resistance level and aim for a new all-time high.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.
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.