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2 June 2023
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Ethereum Technical Analysis: ETH/USD recovering after a massive crash to $225

  • After the recent rejection at $250, Ethereum bears were able to take over and bring the digital asset down to $225.
  • ETH/USD is recovering well trading at $236 at the time of writing.

What initially seemed like a mild rejection turned out to be a significant one. Ethereum plummeted to $225 in less than eight hours and was close to breaking below $224.47 support, formed on June 2 after the rejection from $253.47.

ETH/USD 4-hour chart


Ethereum has clearly lost the 4-hour 12-EMA and the 26-EMA which have crossed bearishly. The 12-EMA at $238.27 is now acting as a resistance level and will be the first thing to beat for the bulls. Besides the EMAs, there isn’t really a lot of resistance points towards $250 and this is certainly not the first attempt by the bears to take over. 

ETH/USD 1-hour chart


The hourly chart is in an uptrend at the time of writing and ETH is above the 12-EMA and the 26-EMA. Both EMAs are looking for a bull cross in the next six hours if bulls can keep up the pace. 

ETH/USD technical levels


Today last price 236.91
Today Daily Change 6.72
Today Daily Change % 2.92
Today daily open 230.19
Daily SMA20 230.3
Daily SMA50 213.65
Daily SMA100 185.5
Daily SMA200 180.81
Previous Daily High 250.38
Previous Daily Low 225.52
Previous Weekly High 253.48
Previous Weekly Low 224.48
Previous Monthly High 247.15
Previous Monthly Low 176.19
Daily Fibonacci 38.2% 235.02
Daily Fibonacci 61.8% 240.88
Daily Pivot Point S1 220.34
Daily Pivot Point S2 210.5
Daily Pivot Point S3 195.48
Daily Pivot Point R1 245.21
Daily Pivot Point R2 260.23
Daily Pivot Point R3 270.07
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