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ETH/USD Back Above 1500:  Sally Ho's Technical Analysis 3 March 2021 ETH

Ethereum (ETH/USD) gained ground early in today’s Asian session as the pair appreciated to the 1506.61 area after trading as low as the 1455.86 area in the North American session, with the intraday low representing a test of the 50% retracement of the appreciating range from 1292.76 to 1605.89.  Chartists observe the interday high represented a test of the 23.6% retracement of the appreciating range from 176.43 to 2041.42, and the 38.2% retracement of the appreciating range from 905 to 2041.42.  Stops were recently elected above various retracement levels during the recent recovery higher, including the 1633.50 area that represents the 61.8% retracement of the depreciating range from 1805.03 to 1356.  If ETH/USD extends its recent depreciationpotential technical support includes 1285.87 and 1205.96.

Stops were also recently elected above the 1930.401957.36, and 2017.05 levels during the appreciation, areas related to historical buying pressure around the 215.16370.50, and 176.43 areas. Stops were also recently elected above upside price objectives including the 1711.201716.451733.121750.63, and 1805.21 levelsupside price objectives were technically significant on account of buying pressure that originated around the 148.08310.79439.77, and 123.72 areas.  If ETH/USD is able to extend its upward gains, additional upside price objectives include the 2080.482134.982150.66, and 2210.42 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 above the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 1532.17 and the 50-bar MA (Hourly) at 1515.87.

Technical Support is expected around 1285.87/ 1205.96/ 1128.29 with Stops expected below.

Technical Resistance is expected around 2080.48/ 2134.98/ 2150.66 with Stops expected above.

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

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

Source: CryptoDaily

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