Ethereum (ETH) Continues Its Consolidation, Lacks Buyers at Higher Levels
Login

Ethereum (ETH) Continues Its Consolidation, Lacks Buyers at Higher Levels

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:
Key Resistance Levels: $225, $250, $275
Key Support Levels: $150, $125, $100

ETH/USD Long-term Trend: Ranging
Ethereum is trading at $133 but fluctuating between $100 and $140. The bulls have the upper hand as price continues its consolidation. The bulls are testing and Ether is trading very close to resistance at $140. The chances of the bulls are more than the bears. In the meantime, neither the bulls nor the bears have broken any of the levels. Ethereum is still consolidating as it approaches the resistance line of the descending channel.

ETH/USD – Daily Chart

Daily Chart Indicators Reading:
Ethereum is below 75% range of the daily stochastic. The pair is in a bearish momentum but the momentum is weak and unsteady. The 21-day SMA is acting as a resistance to the coin. The moving averages are sloping southward.

ETH/USD Medium-term Trend: Ranging
On the 4 hour chart, ETH is in a horizontal channel because the coin is ranging. The pair is fluctuating between $100 and $140. The key levels of the price range have not been broken. However, on March 20, there was a partial breakout but the bulls were resisted.

ETH/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The SMAs are sloping horizontally indicating the sideways trend. The Relative Strength index period 14 is level 53 indicates that the coin is in the uptrend zone. It is also above the centerline 50.

General Outlook for ETH
Ethereum is in a period of consolidation. The bulls have not been able to break $140 resistance. Buyers have several opportunities but lack buying power at higher levels. On the upside, a break above $140, will result to a high of $200.

ETH Trade Signal
Instrument: ETHUSD
Order: Buy
Entry price: $132.97
Stop: $80
Target: $332.97

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News