FxWirePro: ETH/USD tests key resistance at 300, close above 10-DMA to see further bullishness
(Refer ETH/USD chart on Trading View) ETH/USD is trading in the green on Friday just shy of 10-DMA resistance. It is currently trading at 301 levels at the time of writing (Coinbase). On the upside, a decisive break abov…
ETH/USD is trading in the green on Friday just shy of 10-DMA resistance.
It is currently trading at 301 levels at the time of writing (Coinbase).
On the upside, a decisive break above 311 (10-DMA) would see the pair testing 355 (21-EMA)/366 (20-DMA)/386 (23.6% retracement of 828.97 and 250.28)/400.
On the flipside, support is likely to be found at 290 (1h 50-SMA) and a break below would drag it to 250 (August 14 low)/ 237 (113% extension of 828.97 and 305.14)/200.
On the daily chart, RSI and stochs are on the verge of a rollover from oversold levels. The hammer pattern suggests scope for further upside.
A close above 10-DMA would see minor bullishness in the pair.
Potential short-liquidation exposure was reported above $85,000 in the week leading up to Oct. 15. A separate cluster near $75,000 has no stated position direction.
Issuance will stay level for about 12 months, then taper to zero over 24 months. Five community-nominated council candidates require confirmation by veHNT holders.
