Ethereum (ETH) Price Analysis: Potential Upside Targets


It is now available in the 1 hour hour frame and is currently testing. If you continue to check in, you can not make your way back to the top of the channel.

Applying the Fibonacci extension tool In particular, the 38.2% level lines up with the mid-channel area of ​​interest that may contain take-profit orders. The 50% extension lines up with the swing around $ 250 and the 78.6% level lines up with the channel resistance. The full extension is located around $ 280.

The SMA is safe above the long-term 200 SMA to indicate that the path of least resistance is to the upside. In other words, the uptrend is more likely to resume than to reverse. Bullish momentum and the 200

Stochastic is on the move. RSI is also heading lower to signal bearish pressure but is dipping into oversold territory. This suggests that they will feel exhausted and allow buyers to take over.

Ethereum has regained its spot in the top two rankings of cryptocurrency market cap as it was briefly outpaced by Ripple in the latest rally. It could be enough to keep this digital asset supported versus the dollar and its altcoin peers.

Up to the past 24 hours. This could be a correction from the recent climb, but a break below the channel support.

Source link