ETH: Pullback in Uptrend
Ethereum (ETH) technical analysis:
Trade setup: Price remains in an Uptrend. Recently it had a bearish breakout from Descending Triangle pattern, dipped but rebounded from 200-day moving average (~$1,630) and a long-term up trendline (blue line in chart), which serves as a support area. Price reached $1,930 resistance where it has gotten rejected so far. Pullback to $1,800 support could be a swing entry opportunity in Uptrend.
Trend: Uptrend on Short- and Medium-Term basis and Neutral on Long-Term basis.
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral). MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance: Nearest Support Zone is $1,800 (previous resistance), then $1,700. The nearest Resistance Zone is $1,930, then $2,000.
Trade setup: Price remains in an Uptrend. Recently it had a bearish breakout from Descending Triangle pattern, dipped but rebounded from 200-day moving average (~$1,630) and a long-term up trendline (blue line in chart), which serves as a support area. Price reached $1,930 resistance where it has gotten rejected so far. Pullback to $1,800 support could be a swing entry opportunity in Uptrend.
Trend: Uptrend on Short- and Medium-Term basis and Neutral on Long-Term basis.
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral). MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance: Nearest Support Zone is $1,800 (previous resistance), then $1,700. The nearest Resistance Zone is $1,930, then $2,000.
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