Connect with us

Hi, what are you looking for?



Ethereum market update: ETH/USD range-bound amid low trading activity

  • Ethereum price settled in a range, having recovered from the recent low
  • Critical resistance is created by psychological $180.00.

ETH/USD bottomed at $168.35 on October 18 and, having recovered above $170.00 entered a range-bound phase. By the time of writing, the second largest coin settled at $174.30, amid slow trading activity. Lo volatility on the global cryptocurrency markets limits ETH movements and creates conditions for further consolidation in a tight range.

Ethereum’s market value is registered at $18.9. The coin is up 1.5% on a day-to-day basis. 

Ethereum’s technical picture

On the intraday charts, ETH/USD recovery is capped by SMA50 (Simple Moving Average) four hour at $177.40. Once this barrier is out of the way, the upside is likely to gain traction with the next focus on pivotal $180.00. We will need to see a sustainable move above this handle for an extended recovery to $183.55 (SMA200 four hour).

On the downside, a move below $173.00 (the middle line of four-hour Bollinger Band) will take the price to critical $170.00 strengthened by the lower line of four-hour Bollinger Band, and to the recent low of $168.35. That’s where fresh buying orders are to stop the decline; if they are absorbed, the sell-off may continue towards $160.00.

ETH/USD, four-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

source featured


Copyright © 2020 Elevenews