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ETH/USD Tests 2460 Technical Resistance: Sally Ho's Technical Analysis 31 May 2021 ETH - Piracy News and Crypto Updates - InviteHawk - Your Only Source for Free Torrent Invites

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ETH/USD Tests 2460 Technical Resistance: Sally Ho's Technical Analysis 31 May 2021 ETH


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Ethereum (ETH/USD) gained ground early in the Asian session as the pair appreciated to the 2462.03 level after trading as low as the 2299.21 area during the European session, with the interday high representing a test of the 38.2% retracement of the appreciating range from 1728 to 2913.68.  Traders lifted ETH/USD as high as the 2480 level during the European session, representing a test of the 61.8% retracement of the depreciating range from 2950 to 1728.  During a pullback to the 2367 area during the North American session, ETH/USD tested the 38.2% retracement of the appreciating range from 2182.20 to 2480.69.  Selling pressure intensified from the 3567.40 area recently and Stops were elected below several downside price objectives and areas of potential technical support, including the 3485.38, 3212.13, 2938.87, 2725.38, 2600.77, 2549.82, 2451.84, 2334.65, 2178.29, 2054.25, 1987.71, 1944, 1912.06, and 1874.99 levels. 

Potential technical support levels during pullbacks include the 1783.89, 1755.41, 1730.47, 1456.03, 1371.71, 1317.79, 1229.48, and 1103.49 levels.  During the recent appreciation to an all-time high around the 4384.43 area, Stops were elected above the 3987.65, 4113.81, and 4136.61 areas, upside price objectives related to historic buying pressure that originated around the 90 figure.  Additional upside project objectives include the 4453.47, 4471.68, 4522.73, 4550.12, and 4609.38 levels.    Traders are observing that the 50-bar MA (4-hourly) is bearishly indicating below the 100-bar MA (4-hourly) and below the 200-bar MA (4-hourly).  Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 2494.36 and the 200-bar MA (Hourly) at 2411.11.

Technical Support is expected around 1860/ 1783.89/ 1755.41 with Stops expected below.

Technical Resistance is expected around 3122.22/ 3420.10/ 3788.66 with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

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