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1 December 2022
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Ethereum Technical Analysis: ETH/USD plummets to $237, recovers instantly

  • Ethereum had a significant bull break and touched $250 on some exchanges.
  • The run only lasted a few minutes and ETH/USD started to drop.
  • The digital asset dropped as low as $237 within the same hour as the bull break.

A wild day for Ethereum today on June 9. The digital asset was trading sideways at around $242 before a massive bull break up to $250. This move only lasted a couple of minutes as bears quickly took over and pushed ETH below $240, hitting $237.01. 

This is not the first volatile move we have seen after the recent rejection from $253.47. Almost all the top cryptocurrencies have experienced massive spikes followed by crashes during the past few days.

ETH/USD 1-hour chart


Ethereum is trading sideways, but we see a lot of drops and breakouts that are getting no continuation. The most recent one is the biggest by far and indicates that the market is extremely indecisive right now. Ignoring this huge candlestick, Ethereum has not been in a clear hourly uptrend in days.

ETH/USD 15-minutes chart


A small bull break took Ethereum up to $244.78 breaking all the resistance levels set after the massive rejection. ETH/USD is in an uptrend at the time of writing and it’s looking to break $250 next.

ETH/USD technical levels


Today last price 243.68
Today Daily Change -2.93
Today Daily Change % -1.19
Today daily open 246.61
Daily SMA20 224.97
Daily SMA50 209.7
Daily SMA100 185.01
Daily SMA200 179.52
Previous Daily High 247.83
Previous Daily Low 241.1
Previous Weekly High 253.48
Previous Weekly Low 224.48
Previous Monthly High 247.15
Previous Monthly Low 176.19
Daily Fibonacci 38.2% 245.26
Daily Fibonacci 61.8% 243.67
Daily Pivot Point S1 242.54
Daily Pivot Point S2 238.46
Daily Pivot Point S3 235.81
Daily Pivot Point R1 249.26
Daily Pivot Point R2 251.91
Daily Pivot Point R3 255.99
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