FxWirePro: ETH/USD struggles to close above 200-day MA, good to sell on rallies
ETH/USD has retreated sharply after jumping till $11.67 levels (KRAKEN). It is currently trading around $11.34 at the time of writing. Ichimoku analysis of daily chart shows: Tenkan-Sen $12.00 Kijun-Sen $12.31 Trend reve…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
ETH/USD has retreated sharply after jumping till $11.67 levels (KRAKEN). It is currently trading around $11.34 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen $12.00
Kijun-Sen $12.31
Trend reversal - $12.06 (100 day MA)
Long-term trend remains to be neutral. In the daily chart, the pair trading well below 200- day MA and a slight decline till $1065/$9.90 likely.
Major resistance is seen at $11.80 (7 days EMA) and any break above targets $12.34 (daily Kijun-Sen)/$12.92 (Oct 18th high). Major support can be noticed around $12.47 (55 days EMA) and break below targets $12.19 (50 –day MA)/ $11.70 (200- day MA).
