ETH/USD 4H Chart: Upside momentum likely to continue

Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate

Ethereum cryptocurrency has appreciated about 12.16% in value against the US Dollar since June 14. The currency pair was supported by the 50-hour simple moving average and the 23.60% Fibonacci retracement level at 264.8.

By and large, it is likely that the ETH/USD currency pair will make a pullback towards a support level formed by the 23.60% Fibonacci retracement level during the following trading sessions.

However, technical indicators suggest that the currency exchange rate might continue its bullish momentum in the short term.

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