FxWirePro: ETH/USD takes support near 5-DMA, minor bearishness on close below
ETH/USD is trying to maintain its upward trend and hold above 5-DMA. It is currently trading at 19.23 levels at the time of writing (Kraken). Ichimoku analysis (Daily chart): Tenkan-Sen: 15.89 Kijun-Sen: 14.85 Overall bi…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
ETH/USD is trying to maintain its upward trend and hold above 5-DMA. It is currently trading at 19.23 levels at the time of writing (Kraken).
Ichimoku analysis (Daily chart):
Tenkan-Sen: 15.89
Kijun-Sen: 14.85
Overall bias remains bullish. On the upside, resistance is now seen at 19.72 (161.8% retracement of 14.45 and 5.92) and any violation would see the pair testing 20 (psychological)/20.49 (March 03 high).
Caution is advised as Stochs and RSI(14) are in the overbought zone. Immediate support is seen at 19.09 (2H 50-SMA) and a break would target 18.60 (5-DMA) / 17.90 (March 05 low).
The combined position reached $1.084 million at its peak, $407,500 above the reported cost; the transfer does not show that the trader realized that difference.
