Ethereum Chart Analysis: ETH/USD possibly forming an equilibrium pattern on the daily chart

  • ETH/USD seems to have formed a clear higher low and lower high on the daily chart.
  • The daily uptrend is intact but the trading volume is declining.
  • Bulls have defended the daily 12-EMA two times in the last week.

Ethereum is trading at $242 at the time of writing after successfully defending the daily 12-EMA yesterday on June 7. ETH/USD dropped to $234.60 but the dip didn’t last long as buyers quickly jumped in and pushed Ethereum over $240 again, peaking at $245.40.

ETH/USD daily chart


The last lower high was formed on June 5 at $247.93, this is the resistance level the bulls need to break in order to see a bull run above $250 and $253.47, the last daily high. The daily RSI has cooled off and will not stop the bulls if ETH breaks above $247.93.

ETH/USD 4-hour chart


Ethereum has lost the 12-EMA and 26-EMA on the 4-hour chart a few times before but has managed to climb back up above them. ETH/USD was close to seeing a bearish cross of the 4-hour EMAs on June 7 but recovered before the cross. Bears are now pushing ETH below the 12-EMA ($242.41) again while the RSI is cooling off.

ETH/USD technical levels


Today last price 242.17
Today Daily Change -2.64
Today Daily Change % -1.08
Today daily open 244.81
Daily SMA20 223.37
Daily SMA50 208.38
Daily SMA100 184.72
Daily SMA200 179.16
Previous Daily High 245.41
Previous Daily Low 234.6
Previous Weekly High 253.48
Previous Weekly Low 224.48
Previous Monthly High 247.15
Previous Monthly Low 176.19
Daily Fibonacci 38.2% 241.28
Daily Fibonacci 61.8% 238.73
Daily Pivot Point S1 237.8
Daily Pivot Point S2 230.8
Daily Pivot Point S3 227
Daily Pivot Point R1 248.61
Daily Pivot Point R2 252.41
Daily Pivot Point R3 259.42


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