- Ethereum (ETH) is trading with a bullish pattern over the long term chart and heading towards the levels of $830
- The pair of ETH/BTC is trading with a minor gain of +0.23% standing at 0.02841770 BTC
Ethereum (ETH) is heading for the levels of $830 and forming a rounding bottom pattern over the weekly time frame, currently trading at the price levels of $654.32 on 19th December 2020. The long term chart indicating a bullish movement as the moving averages are giving a positive crossover as the nine and 21-DMA crossed 200-DMA. At the same time, 50-DMA is ready for a positive crossover as heading to suppress 200-DMA, which is a positive indicator for Ethereum. Over the chart, the support is placed at the lower levels of $560 and $485, while on the higher side resistance is placed at $690 and $760. In contrast, the strong resistance can be considered as $830.
Over the monthly chart Ethereum is trading near a minor support zone of $620-$600 after a bullish move it clears the resistance and currently trading above it. The major support on the downside is placed at $500-$480. However, it is currently trading above 200-DMA that can be considered as the support line as the investors can expect higher levels of $710 and $790. Currently, it is trading at the price levels $654.32 with intraday loss of -1.20%. The total market capitalization stands at $74,588,752,838 and volume traded in the last 24-Hours of $14,169,658,810.
The Relative Strength Index (RSI), which indicates the strength of ETH, is trading at 64.61, and it is trading near the overbought zone after recovering from lower levels.
Moving Average Convergence Divergence (MACD) currently indicates the bearish trend on the daily chart as it gives a negative crossover with the significance of Bear’s line (red) over Bull’s line (blue) with no sign of recovery.