- ETH/USD consolidates gains from the multi-month top amid overbought RSI conditions.
- 61.8% of Fibonacci retracement offers key support, bulls keep eyes on 2018 high.
Having jumped to the highest in 35 months, ETH/USD recedes to $955.35 during early Monday’s trading. Although overbought RSI conditions suggest further consolidation of prices, 61.8% Fibonacci retracement of the year 2018 downturn becomes the key level to watch for bears.
The downside break of the key Fibonacci retracement, at $906.30, needs to get validation from the $900 round-figure before challenging May 2018 top surrounding $830.
However, any further weakness past-$830 can make the crypto pair vulnerable to revisit July 2018 peak close to $515.00 ahead of highlighting the $500 psychological magnet and September 2020 high of $488.95.
On the contrary, the $1,000 threshold guards the pair’s immediate upside ahead of the recent high around $1,015.
Should ETH/USD buyers chose to ignore RSI conditions beyond $1,015, the February 2018 high of $1,224 and the year 2018 peak, also the record high, near1,420 will be in the spotlight.
ETH/USD weekly chart
Trend: Pullback expected
ADDITIONAL IMPORTANT LEVELS
|Today last price||967.13|
|Today Daily Change||-13.31|
|Today Daily Change %||-1.36%|
|Today daily open||980.44|
|Previous Daily High||1015.14|
|Previous Daily Low||770|
|Previous Weekly High||759|
|Previous Weekly Low||625.01|
|Previous Monthly High||759|
|Previous Monthly Low||530.32|
|Daily Fibonacci 38.2%||921.5|
|Daily Fibonacci 61.8%||863.64|
|Daily Pivot Point S1||828.58|
|Daily Pivot Point S2||676.72|
|Daily Pivot Point S3||583.44|
|Daily Pivot Point R1||1073.72|
|Daily Pivot Point R2||1167|
|Daily Pivot Point R3||1318.86|