• Sun, 26 May 2019, 11:29 PM
  • All times are UTC
  • Edition:
    International
Link copied

FxWirePro: ETH/USD hits fresh 2018 low, bias bearish

Thu, 06 Sep 2018, 12:19 pm UTC

(Refer ETH/USD chart on Trading View)

ETH/USD fell to a fresh 2018 low of 211 levels on Thursday, continuing the downtrend seen since yesterday.

The fall comes amid wider weakness in the cryptocurrency market as a whole. Ethereum price is down by over 28 percent so far this week.

The pair is trading at 225 levels at the time of writing, forming a doji pattern on the daily chart (Coinbase).

On the top side, the pair is likely to face resistance at 235 (1h 21-EMA) and a break above would see it testing 264 (5-DMA)/286 (21-EMA)/300.

On the downside, the pair appears to have found support near 215 (113% extension of 515.88 and 250.28) and further weakness would drag the pair to 200/178/150.

Bias has turned bearish on the daily chart with RSI at oversold levels, stochs biased sharply lower, and MACD on the verge of a bearish crossover. That said, the current doji formation suggests bulls might be trying to sustain the pair’s strength above 200.

Watch out for a break below 200 levels for further bearishness in the pair.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
  • Binod
  • 2018.09.13 07:14:02
Hello Shampa , what you mean by "The word "levels" is used as sometimes the decimal part of the value of omitted" ? Could you please explain that in simple English?
  • 0
  • ·
  • 0
  • shampa
  • 2018.09.12 11:35:44
Comment deleted by user
  • 0
  • ·
  • 0
  • Binod
  • 2018.09.11 06:41:59
Hello writer, a good journalistic ethics is to reply with a 'Thank you', if someone helps you to correct your 'English' and save you from embracement. First, I saw you only changed a few things after my suggestions. However, it is funny to see you did stick to the word 'levels'. Leave this, even after applying for the newsletters, I am getting only one weekly, which I am less interested in and can read anywhere on google. I will be glad if you send me other newsletters.
  • 0
  • ·
  • 0
  • shampa
  • 2018.09.12 11:39:27
Hello Binod,
Thank you for your suggestions.
The word "levels" is used as sometimes the decimal part of the value of omitted.
Regarding newsletter, we will soon start sending it on a daily basis.
  • 0
  • ·
  • 0
  • Binod
  • 2018.09.07 04:52:05
Won't the lede be - ETH/USD fell to a fresh 2018 low of $211 on Thursday, continuing its downtrend seen since yesterday. The pair is trading XX percent lower/higher at $225 at the time of writing. And you have written 'levels' so many times - actually if you see it is only one level and not 'levels'.
  • 0
  • ·
  • 0
More
  • Bitcoin (BTC) $8,664.49 (+7.51%)
  • Ethereum (ETH) $266.48 (+5.65%)
  • XRP (XRP) $0.409200 (+5.69%)
  • Bitcoin Cash (BCH) $432.61 (+6.36%)
  • Litecoin (LTC) $111.03 (+8.12%)
  • Bitcoin (BTC) $8,664.49 (+7.51%)
May 24, 2019 (Friday)
12:18
Crypto Technicals: ETH/USD retraces above 1H 200-SMA, 'Hammer' on daily charts signals further gains
10:50
German engineering giant Bosch trials Ethereum blockchain
10:39
Crypto Technicals: BTG/USD grinds higher along 21-EMA, breakout at 61.8% Fib (25.74) will accentuate gains
09:33
Bank of Russia to review proposal on gold-backed cryptocurrency
09:17
Blockchain software firm Unstoppable Domains raises $4M from Draper Associates, Boost VC
08:45
Crypto Technicals: LTC/USD bounces off 21-EMA support, next bull target $109
08:45
Robinhood Crypto is now in New York
07:27
Facebook to launch its cryptocurrency 'GlobalCoin' in Q1 2020: Report
07:25
California resident sued for alleged $26M crypto Ponzi scheme
06:33
AT&T teams up with BitPay to become the first telecom to accept cryptocurrency payments
06:16
Rep. Swalwell accepting bitcoin donations in bid for US presidency
06:10
Grayscale receives FINRA approval to open Ethereum Trust to individual investors
05:12
Indian telco Airtel selects IBM for blockchain-based pan India anti-spam call solution: Report
05:07
Binance CEO CZ seeks compensation for reputational damage from Sequoia
04:06
Overstock.com’s blockchain subsidiary signs MOU with Lusaka city to develop land governance platform
03:57
Toyota, University of Tokyo, TRENDE to start testing blockchain-based electricity trading solution
03:14
Russia's NSD to roll out security token blockchain in June
May 23, 2019 (Thursday)
12:15
Crypto Technicals: IOT/USD holds 21-EMA support, retrace till 0.3185 (200-DMA) likely on break below
12:11
Coinstar extends bitcoin buying service to 21 US states
11:38
Crypto Technicals: BTC/USD bounces off session lows with 'Hammer' formation, bias neutral
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft