12:10 PM · 17 June 2020

Technical alert: Ethereum

The second largest cryptocurrency - Ethereum - has been trading in an upward trend since 13th of March. Coin failed to break above the resistance at $250 but the main trend remains upward. The price bounced off the key support zone ($215) this week, confirming that buyers are in advantage. The aforementioned supply area at 215$ is marked with previous price reactions and 45 - period moving average. Note that price respected this moving average throughout the ongoing upward impulse. As long as the area marked with green colour holds firm, Ethereum may continue to gain.

Ethereum D1 interval. Source: xStation

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