ETH/USD takes support at 7.50, break below targets 7.15
ETH/USD has taken support near 7.50 (December 17 low) and is currently trading at 7.71 levels at the time of writing (Kraken). Ichimoku analysis (Daily chart): Tenkan-Sen: 8.05 Kijun-Sen: 7.85 Trend reversal: 9.92 (90-EM…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
ETH/USD has taken support near 7.50 (December 17 low) and is currently trading at 7.71 levels at the time of writing (Kraken).
Ichimoku analysis (Daily chart):
Tenkan-Sen: 8.05
Kijun-Sen: 7.85
Trend reversal: 9.92 (90-EMA)
On the upside, the pair faces resistance at 7.99 (21-day MA) and a break above would target 8.36 (61.8% retracement of 8.89 and 7.50)/8.60.
On the flip side, 7.50 (December 17 low) is acting as a support for the pair and any violation would see it testing 7.15 (trend line joining 12.30 and 8.67)/ 7 (August 02 low).
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