ETH/USD continues uptrend, jump till $16.10 likely
ETH/USD continues to trade in the green on Friday, hitting a high of $15.10 levels (Kraken) so far in the day. It currently trades at $14.00 levels, at press time. Ichimoku analysis (4 H chart): Tenkan-Sen level: $13.85 …
ETH/USD continues to trade in the green on Friday, hitting a high of $15.10 levels (Kraken) so far in the day. It currently trades at $14.00 levels, at press time.
Ichimoku analysis (4 H chart):
Tenkan-Sen level: $13.85
Kijun-Sen level: $13.10
Trend reversal level - (90 4H EMA)-$14.20
The pair faces major resistance at $15 and any break above that level will take the pair till $15.83 (50% retracement of $21.48 and $10.10)/$16.10 (Jun 22 high). On the other hand, short-term support is eyed at $12.30 (61.8% retracement of $10.10 and $16.08) and any violation below will drag the pair till $11.10/$10.10 (18 Jun low).
“The pair has recovered sharply till $15 after making a low of $12.60. In 4hour chart ETH/USD is trading well above 21 day MA. So a jump till $16.10 is possible”, FxWirePro said in a statement.
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