ETH/USD faces resistance at 10-DMA, bullishness only above 12.00
ETH/USD continues to hover around the 10.00 mark and is trading at 10.13 levels at the time of writing (Kraken). Ichimoku analysis (Daily chart): Tenkan-Sen: 10.30 Kijun-Sen: 10.76 Trend reversal: 11.57 (90 EMA) The pair…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
ETH/USD continues to hover around the 10.00 mark and is trading at 10.13 levels at the time of writing (Kraken).
Ichimoku analysis (Daily chart):
Tenkan-Sen: 10.30
Kijun-Sen: 10.76
Trend reversal: 11.57 (90 EMA)
The pair is facing strong resistance at 10.33 (10-day MA) and a break above would target 10.68 (21 EMA)/11.06 (61.8% retracement of 12 and 9.56). Bullishness in the pair could be confirmed only if it breaks above 12.00 levels (October 31 high).
On the downside, support is seen at 9.87 (61.8% retracement of 9.56 and 10.37) and a break below would see a dip till 9.56 (November 12 low)/9.23 (Oct 29 low).
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