Ethereum Price Technical Analysis ETH/USD Struggling Near 100 SMA

Ethereum Price Technical Analysis  ETH/USD Struggling Near 100 SMA

Key Highlights


ETH price is trading in a range above the $680 support level against the US Dollar.
There is a contracting triangle forming with current support at $684 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is facing a crucial resistance on the upside near the $730 level and the 100 hourly simple moving average.

Ethereum price is struggling to gain traction against the US Dollar and Bitcoin. ETH/USD must break the $720 resistance and settle above 100 SMA to rise further.

Ethereum Price Range

There were mostly bearish moves below $750 in ETH price against the US Dollar. The price struggled to trade higher and formed a high near $738 yesterday. It failed to hold gains above the $720 level and the 100 hourly simple moving average. As a result, there was a downside reaction below the 50% Fib retracement level of the last wave from the $650 low to $738 high.

However, the downside move was protected by the $680 support. Moreover, the 61.8% Fib retracement level of the last wave from the $650 low to $738 high also acted as a support. At the moment, there is a contracting triangle forming with current support at $684 on the hourly chart of ETH/USD. On the upside, there is a major resistance near $717 and the 100 hourly SMA. Above $717, the triangle resistance trend line is at $735 on the same chart. Therefore, the price has to break the $717 and $735 resistance levels to gain upside momentum.


On the downside, the triangle support at $684 holds a lot of importance. A break below the $684 support could ignite a downside move back towards the last swing low of $650 or even $640.

Hourly MACD The MACD is still in the bearish zone.

Hourly RSI The RSI is moving higher, but it is still below the 50 level.

Major Support Level $684

Major Resistance Level $735

Charts courtesy Trading View

12.03.2018 / 22:45 67
Bitcoin Cash Price Technical Analysis  BCH/USD Holding Key Support Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price is trading above the $1,020 support and is currently in a positive zone against the US Dollar. There is a crucial
Bitcoin Cash Price Technical Analysis  BCH/USD to Trade Higher Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price is recovering and is currently trading above $1,100 against the US Dollar. There was a break above a major contracting
Ethereum Classic Price Technical Analysis  ETC/USD to Break $20? Ethereum Classic Price Technical
Key Highlights Ethereum classic price was under a lot of pressure and it broke the $25.00 support against the US dollar. There is a major bearish
Ethereum Price Technical Analysis  ETH/USD Could Decline Further Ethereum Price Technical Analysis
Key Highlights ETH price formed a short-term top near $857 and moved down against the US Dollar. There is a key connecting bearish trend line forming
Bitcoin Cash Price Technical Analysis  BCH/USD Trading Positively Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price is gaining upside momentum and is currently trading above $1,250 against the US Dollar. There was a break above a
Ethereum Price Technical Analysis  ETH/USD Recovery Underway Ethereum Price Technical Analysis
Key Highlights ETH price started a fresh upside move from the $826 swing low against the US Dollar. There was a break above a crucial bearish trend
Comments (0)
Add a comment
Comment on