• ETH/USD keeps recovery moves from two-week bottom despite latest pullback.
  • Bounce off two-month-old support line joins daily closing beyond 21-day SMA to back the bulls
  • 11-day-old trend line guards immediate upside ahead of the $2,000 threshold.

ETH/USD stays on the front foot, recently easing to $1,755, during the early Tuesday’s trading. In doing so, the altcoin keeps the recovery moves from the previous day’s heavy downtick that recalled two-week lows in a flash move.

However, failures to slip beneath an upward sloping trend line from December 23 join a daily closing beyond 21-day SMA to favor the ETH/USD buyers.

As a result, the Ethereum bulls are currently eyeing an area comprising February 13 top and February 23 low, around $1,875-85.

In a case where the ETH/USD bulls remain dominant past-$$1,885, the $2,000 will gain the market’s attention.

Meanwhile, a downside break of the stated support line, at $1,562 now, needs validation from a 50-day SMA level of $1,482 before convincing the Ethereum sellers.

Following that, the late-January lows near $1,040 and the $1,000 psychological magnet should be in the spotlight.

ETH/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price 1778.66
Today Daily Change 0.00
Today Daily Change % 0.00%
Today daily open 1778.66
 
Trends
Daily SMA20 1787.26
Daily SMA50 1468.25
Daily SMA100 1037.23
Daily SMA200 713.25
 
Levels
Previous Daily High 1938.95
Previous Daily Low 1518.58
Previous Weekly High 1974.98
Previous Weekly Low 1659.93
Previous Monthly High 1477.3
Previous Monthly Low 715.22
Daily Fibonacci 38.2% 1679.16
Daily Fibonacci 61.8% 1778.37
Daily Pivot Point S1 1551.84
Daily Pivot Point S2 1325.03
Daily Pivot Point S3 1131.47
Daily Pivot Point R1 1972.21
Daily Pivot Point R2 2165.77
Daily Pivot Point R3 2392.58

 

 


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

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC declines as resistance emerges near all-time high

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC declines as resistance emerges near all-time high

Bitcoin and Ethereum are approaching their key support levels, and a sustained close below these marks could lead to further declines. 

More Cryptocurrencies News
TON set to launch synthetic Bitcoin to boost its DeFi solutions

TON set to launch synthetic Bitcoin to boost its DeFi solutions

TON revealed its plan on Thursday to launch a synthetic Bitcoin token on its blockchain, allowing users to trade, stake, and earn yield using BTC. Following the announcement, TON is down over 3%.

More Ton News
Maker Price Forecast: MKR could stage 40% rally

Maker Price Forecast: MKR could stage 40% rally

MakerDAO is up 2% on Thursday and could be set for a 40% rise in the coming weeks if it successfully maintains an extended move above the descending trendline of a falling wedge. On-chain data also supports the bullish outlook after a four-month-long decline.

More MakerDAO News
USDT market cap crosses $120 billion as stablecoins continue their uptrend

USDT market cap crosses $120 billion as stablecoins continue their uptrend

The stablecoin market cap continued its uptrend in October, characterized by USDT reaching a $120 billion market cap, according to a CCData report on Thursday. This indicates that investors are preparing liquidity to fuel more demand.

More USDT News
Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.

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