ETH breaks down after a weekly increase of 9% over the 50-day-MA
ETH breaks down after a weekly increase of 9% over the 50-day-MA
ETH/USD-ether breaks 50-day-ma
Important support level: $ 3300, 3150 $, $ 3000
Important resistance levels: $ 3790, $ 4000.x
Etheruem found support on Wednesday at $ 2770 (0.786 FIB & 100-day-MA) and has increased since then. On Thursday, ETH managed to break a descending trend line when it crossed the 20-day-MA to reach the 50-day-MA.
At the weekend, ETH was still above the 50-day-MA when it broke through the resistance at $ 3350 and reached up to $ 3485. Since then he has rolled over and now uses the 50-day-MA as support.
ETH-USD short-term price forecast
With a view to the future, the first resistance is $ 3485. This is followed by $ 3600, $ 3790 (bear 0.786 fib retracement) and $ 4000.
On the other hand, the first support for the 50-day-MA is around $ 3,300. This is followed by $ 3150 (20-day-MA), $ 3,000 and $ 2890.
The RSI is back on the center line after an increase from below, which indicates that the previous declining dynamics have left the market.
ETH/BTC - market failure at 0.072 btc.
Important support levels: 0.0691 BTC, 0.068 BTC, 0.067 BTC.
Important resistance levels: 0.07 BTC, 0.0711 BTC, 0.072 BTC.
against BTC, the cryptocurrency is currently fighting to break the resistance at 0.0711 BTC. The coin found support at 0.068 BTC last week and started to push up at the weekend to break through the 50-day-MA and reach up to 0.072 BTC.
Unfortunately, ETH did not manage to close a daily candle over 0.0711 BTC and rolled out of there yesterday to fall back under 0.07 BTC and reach 0.0691 BTC.
ETH-BTC short-term price forecast
In the future, the first support is 0.0691 BTC. The following follow 0.068 BTC, 0.067 BTC (100-day-ma) and 0.0659 BTC (0.618 fib).
On the other hand, the first resistance is 0.07 BTC. This is followed by 0.0711 BTC, 0.072 BTC and 0.0733 Btc.
The daily RSI is still below the center line, which indicates a weak down moment in the market.
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