Copy link
Increase text size
Decrease text size
Link copied

FxWirePro: ETH/USD rejected at 50-DMA resistance, eyes key support at 420

Tue, 31 Jul 2018, 11:42 am UTC

ETH/USD is trading deep in the red on Tuesday as it broke below the trend line joining 404.22 and 441.

It is currently trading at 434 levels at the time of writing (Coinbase).

On the upside, the pair faces stiff trend line resistance at 460 and a break above would target 468 (50-DMA)/472 (Cloud bottom)/500. Further strength would target 520 (90-EMA)/561 (100-DMA).

On the flipside, the pair is now eyeing support at 420 (trend line joining 360 and 404.22) and any violation would drag it to 400/ 360 (April 1 low).

Technical indicators are bearish on the daily chart – RSI is weak at 40 and stochs are biased sharply lower. Bias is bearish on intraday charts as well.

Recommendation: Good to go short on rallies around 435/440. SL: 470. TP: 420/400/360.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (btc) $48,635.00 (+5.24%)
  • Ethereum (eth) $1,545.17 (+7.75%)
  • Cardano (ada) $1.22 (-2.86%)
  • Binance Coin (bnb) $245.55 (+11.47%)
  • Tether (usdt) $1.00 (-0.41%)
  • Bitcoin (btc) $48,635.00 (+5.24%)
Mar 2, 2021 (Tuesday)
06:37
Theta Network tweeted, "Theta Mainnet 3.0 is coming April 21st!"
06:33
Crypto Artwork NFT By Pak Sold For 111 ETH
06:28
MoneyGram Faces Lawsuit Over Alleged False Statements Regarding XRP
06:27
Origin Protocol Is Expect To Process Fund Withdrawal On March 3
06:17
Integrated Ventures Completes Purchase Of 600 Avalon Miners Manufactured By Canaan
06:15
NFTX To Enable NFT Swap
06:05
24H Trading Volume Of Uniswap Tokens Marks $831 Mln
06:05
24H Trading Volume Of Uniswap Tokens Marks $831 Mln
06:02
Effective Hashrate Of Filecoin's Entire Network Marks 2.889 EiB
04:23
BTC Contracts See Shorts Accounting For 51.67% In The Past 4 Hours
03:58
BadgerDAO Integrates With RenVM
03:54
FTX users now are able to deposit USD via a PayPal account.
03:52
Wing Finance Introduces PolkaPet — Wing
03:25
BM: IBC Tech Completed Mostly
03:22
CoinNess Market Surveillance Mar. 2: BTC Rises To $49000 Level
03:14
Hurun Global Rich List: Coinbase CEO Pulls Ahead Of Other Blockchain Practitioner
02:51
Polkastarter announces that DFG now becomes one of members of the Polkastarter governance committee.
02:50
DOGE Is Now Supported At 1800 ATMs In 45 US States
02:30
Crypto Market Sentiment On Mar 02: Market In "Extreme Greed"
02:16
Curve Finance Launches V2 of Pool Factory
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft