FxWirePro: ETH/USD recovers from 13-month low of 167, eyes 200
Thu, 13 Sep 2018, 11:41 am UTC
(Refer ETH/USD chart on Trading View)
ETH/USD is trading in the green on Thursday as bulls seem to have taken back some control.
The pair is currently trading at 192, recovering from the 13-month low of 167 hit on September 12 (Coinbase).
The pair is currently hovering around 190 (5-DMA) and a consistent break above would see it testing 200/ 210 (10-DMA)/241 (21-EMA)/270 (trend line joining 828.97 and 515.88)/300.
On the flip side, short-term support is seen at 181 (1h 50-SMA) and any violation would target 167 (September 12 low)/151 (trend line joining 507 and 250.28)/130 (15 July 2017 low).
Technical indicators still remain bearish on the daily chart, despite the minor recovery seen today. That said, the hammer pattern and bullish intraday bias suggest scope for minor upside.
A consistent break above 200, along with a rollover of RSI and stochs from oversold levels, could see a jump till 210.
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