FxWirePro: ETH/USD upside capped by 161.8% fib, break above confirms further bullishness
ETH/USD dropped to 30.30 levels on March 18 and found support near 10-DMA. It is currently trading at 42 levels press time(Kraken). Ichimoku analysis of daily chart: Tenkan Sen: 35.27 Kijun Sen: 32.23 Overall trend appea…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
ETH/USD dropped to 30.30 levels on March 18 and found support near 10-DMA. It is currently trading at 42 levels press time(Kraken).
Ichimoku analysis of daily chart:
Tenkan Sen: 35.27
Kijun Sen: 32.23
Overall trend appears bullish as the MACD line is above the signal line and RSI(14) is holding at 71.
On the upside, resistance is seen at 45.97 levels (161.8% extension of 5.92 and 30.67 rally) and a break above would see it testing 51.90 (March 17 high)/55.43.
On the flipside, support is seen at 39.51 (5-DMA) and any violation would drag it to 31.80 (10-DMA)/24.94 (20-DMA).
Market pricing gave Solana (SOL) a 1% chance of reaching $190 by Oct. 31; September tokenized-stock trading on Solana topped $4.4 billion, a monthly record.
