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- ETH / USD is recovering during the early European hours.
- Critical resistance $ 90.00 could return to focus.
ETH / USD gained trading at $ 87.40 at the time of writing. The third largest digital currency is 2.3% more from the start of Monday and 6% from the recent low of $ 82.14.
While Ethereum still depends on the movements of Bitcoin, in recent times it has been rather resilient. Furthermore, Saturday 15 December the number of active ETH addresses exceeded 50 million. However, it should be noted that the growth of unique ETH addresses is accompanied by a reduction in active addresses. Therefore, as of December 15, there are 232,085 active addresses within the network, 68% less than the maximum.
Technical framework of Ethereum
On the 4-hour chart, ETH / USD is limited by SMA50 (4 hours) currently at $ 89.40. Once deleted, the recovery can be extended to $ 90.00 locally important. This resistance separates us from the $ 100.00 and $ 101.46 hinges (SMA100, 4 hours).
While the 4-hour RSI is flat, remaining on a neutral territory, which means there will be more trade for us without direction in the near future.
On the downside, local support comes to $ 85.00, strengthened from the Asian minimum to $ 85.10. Once below, the sell-off could continue towards $ 82.14.
ETH / USD, 4-hour chart
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