Ethereumis changing hands at $224.15 with a short-term bearish bias amid expanding volatility. Ethereum (ETH) is the second-largest digital asset with the current market value of $24 billion. While barely changedon a day-to-day basis, ETH\/USD has lost 1.45% since the beginning of Saturday.<\/p>\n
On the intraday level, ETH\/USD is moving within a triangle pattern, which may result in a strong movement depending on the direction of the breakthrough. The upper line of the triangle is currently at $232.85. It is reinforced by SMA100 1-hour at $230. If this resistance area is cleared, the upside momentum may gain traction with the next target at $248.00 (SMA200 1-hour and SMA50 4-hour) closely followed by psychological $250.00.<\/p>\n
If the price moves below $220.50, which is the lower boundary of the triangle reinforced bythe lower line of 4-hour Bollinger Band, the sell-off will gain pace with the next bearish aim at $210.57 (the recent low hit on February 27). This area is likely to slow slow down the downside trend and trigger the rebound; otherwise, the price will quickly move down to test $200.00.<\/p>\n<\/p>\n
Resistance 1 - $228.00 (38.2%Fibo retracement daily, $23.6%Fibo retracement weekly, SMA10 4-hour);<\/p>\n
Resistance 2 - $230.00 (SMA200 4-hour, 23.6%Fibo retracement daily)<\/p>\n
Resistance 3 - $237.00 (38.2%Fibo retracement weekly)<\/p>\n
Current price - $225.00<\/p>\n
Support 1 - $222.00 - the lowest level of the previous 4-hour<\/p>\n
Support 2 - $261.00 -the lower line of the daily Bollinger Band, Pivot Point 1-day Support 1<\/p>\n
Support 2 - $210.00 - the lowest level of the previous week<\/p>\n<\/p>\n
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Originally posted here: <\/p>\n
Ethereum Price Analysis: ETH\/USD is moving within an intraday triangle pattern - FXStreet<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Ethereumis changing hands at $224.15 with a short-term bearish bias amid expanding volatility. Ethereum (ETH) is the second-largest digital asset with the current market value of $24 billion Continue reading