ETH/USD nears 200-day MA, break below confirms further downtrend
ETH/USD tried to recover its losses on Thursday and hit 11.08 levels so far in the day. However, it failed to hold its strength and currently trades at 10.85 levels at the time of writing (Kraken). Ichimoku analysis of d…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
ETH/USD tried to recover its losses on Thursday and hit 11.08 levels so far in the day. However, it failed to hold its strength and currently trades at 10.85 levels at the time of writing (Kraken).
Ichimoku analysis of daily chart:
Tenkan Sen: 11.60
Kijun Sen: 11.11
Trend reversal: 11.71 (90 EMA)
On the upside, the pair faces immediate resistance at 11.37 levels(21-day MA) and a break above would see the pair testing 11.83 (55 EMA)/ 12.53 (100-day MA).
On the other side, the pair seems to have taken support near 200-MA and a break below this trend line would drag the pair to 9.09 (61.8% retracement of 7 and 12.49)/7.00. Short-term trend remains bearish for the pair.
Germany changed clocks Sunday, Oct. 25, ahead of the U.S. shift on Sunday, Nov. 1. Deribit’s monthly Bitcoin (BTC) options expire Friday at 4 a.m. ET (08:00 UTC), or 9 a.m. CET in Berlin.
