Copy link
Increase text size
Decrease text size
Link copied

Crypto Technicals: ETH/USD extends choppy trade around 55-EMA, decisive breakout above required for further upside

Mon, 13 Jan 2020, 04:41 am UTC

ETH/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Neutral

GMMA Indicator: Major Trend - Bearish; Minor Trend - Neutral

Overbought/ Oversold Index: Overbought

Support: 138.36 (21-EMA); Resistance: 155.43 (Cloud base)

ETH/USD is extending choppy trade around 55-EMA, bias is neutral.

The pair was trading 2.06% lower on the day at 143.58 at 04:30 GMT, after closing 2.78% higher in the previous session.

The pair is currently holding above 21-EMA support at 135.60. Break below will accentuate weakness.

Major trend as evidenced by the GMMA indicator has been bearish. Long-term moving averages are biased lower.

Short-term moving averages are struggling to extend bullish streak, fail to break above longer-term moving averages.

On the hourly charts, the pair finds strong support around 200H MA (currently at 140.89).

Break below 200H MA and 21-EMA supports with turn in short-term MAs on the GMMA will see downside resumption.

Momentum is bullish, price action has broken into daily cloud, Stochs and RSI converge with price action along with a bullish divergence.

A decisive breakout at 55-EMA will see further gains. Scope then for test of 23.6% Fib at 174.83.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $8,891.48 (+2.18%)
  • Ethereum (ETH) $169.79 (+3.62%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $369.56 (+13.10%)
  • Bitcoin SV (BSV) $284.96 (-10.27%)
  • Bitcoin (BTC) $8,891.48 (+2.18%)
Jan 17, 2020 (Friday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto dealer SFOX announces new service for investors and wealth managers
Binance in talks with TaoTao and Z Corporation for strategic partnerships in Japan
Crypto Technicals: NEO/USD set to scale new highs, 200-DMA breakout confirms bullish trend
Crypto exchange Gemini launches own insurance company "Nakamoto"
eToro, Radar and OKCoin join Coinbase-led Crypto Rating Council
Huobi joins Blockchain Turkey Platform (BCTR)
U.S. authorities urged to investigate crypto use in funding domestic terrorism and extremism
Calibra, Anchorage, Bison Trails executives elected to Libra’s new technical steering committee
Crypto Technicals: LTC/USD bounces off 5-DMA support, eyes next major hurdle at 200-DMA (65.43)
U.S. lawmakers seek tax exemption for crypto transactions under $200
Former CFTC Chair launches Digital Dollar Project in partnership with Accenture
Crypto Technicals: ETH/USD resumes upside after brief pause, eyes 23.6% Fib at 174.83
Uzbekistan to launch national mining pool and licensed cryptocurrency exchange
Crypto Technicals: BTC/USD extends sideways below 200-DMA, bias bullish
Garanti BBVA conducts real-time blockchain transfers using Takasbank's BiGA Platform
Jan 16, 2020 (Thursday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Litecoin Foundation, BlockFi partner to bring more liquidity to users
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.