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ETH/USD Tests 400.00, Then Heads South: Sally Ho’s Technical Analysis 23 August 2020 ETH

Afte recently taking out the 445.45 level, one upside price objective is the 454.79 areas.  Stops were recently elected above the 336.10337.33342.29350.44354.22366.48, and 369.26 areas during the move higher.  Recently, bids emerged just above the 314.07 area, a level that represents the 50% retracement of the broad historical depreciation from the 547.54 to 80.60.   A couple of interesting levels that traders will observe during retracements lower include the 301.20 and 301.40 areas, and they are related to buying pressure that emerged around the 241.62 and 319.86 areas.  Likewise, the 312.82316.32, and 322.16 levels are areas with important technical significance.  Chartists are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).  Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 100-bar MA (4-hourly) at 405.54 and the 50-bar MA (Hourly) at 392.59.

Technical Support is expected around 349.75/ 331.95/ 315.08 with Stops expected below.

Technical Resistance is expected around 454.79/ 487.55/ 498.68  with Stops expected above.

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

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