FxWirePro: ETH/USD hovering around 50, close above could see further bullishness
ETH/USD is struggling to break above the 50-DMA and continues to hover around this level at the time of writing (Kraken). Ichimoku analysis (Daily chart): Tenkan-Sen: 46.84 Kijun-Sen: 47.99 On the upside, a close above 5…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
ETH/USD is struggling to break above the 50-DMA and continues to hover around this level at the time of writing (Kraken).
Ichimoku analysis (Daily chart):
Tenkan-Sen: 46.84
Kijun-Sen: 47.99
On the upside, a close above 50.00 levels (psychological) would see further bullishness in the pair, targeting 51.90 (March 17 high)/54.97 (March 30 high).
RSI is holding at 60 and stochs are biased higher. Also, a bullish crossover of 10- and 20-DMA could be seen on daily charts. A decisive break above 50.00 marks could see further bullishness in the pair.
Support is seen at 47.70 (10-DMA) and any violation would see a dip till 46.69 (20-DMA)/43.32 (23.6% retracement of 15.56 and 51.90)/41 (23.6% retracement of 5.92 and 51.90 rally).
The tokens reached Binance over about an hour on Oct. 19, with an average deposit valuation of $0.2013 per token and a combined value of about $3.64 million.
