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FxWirePro: ETH/USD remains rangebound, further bullishness only above 21-EMA

Fri, 24 Aug 2018, 10:57 am UTC

(Refer ETH/USD chart on Trading View)

ETH/USD remains largely rangebound for the week.

It is currently trading at 275 levels with its upside capped by 10-DMA at the time of writing (Coinbase).

On the upside, a consistent break above 285 (10-DMA) would see the pair testing 300/319 (21-EMA)/342 (3h 200-SMA)/373 (4h 200-SMA)/398 (50-DMA).

On the downside, a violation of 265 (78.6% retracement of 250 and 322) would drag it to 250 (August 14 low)/ 230/200.

Bias remains neutral on the daily chart and the pair is extremely rangebound.

Watch out for a consistent break above 21-EMA for signs for further bullishness in the pair.

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  • Bitcoin (BTC) $11,905.90 (+1.40%)
  • Ethereum (ETH) $436.30 (+1.95%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Chainlink (LINK) $17.21 (+0.01%)
  • Bitcoin Cash (BCH) $294.74 (-0.21%)
  • Bitcoin (BTC) $11,905.90 (+1.40%)
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