ETH/USD 4H Chart: Pressure by 50-hour SMA - Trade Pattern Ideas - Dukascopy Bank
Fri, 08 Feb 2019 06:23:00 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Sell
Sell
Sell
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Neutral
Neutral
Buy
Alligator (13; 8; 5)
Sell
Sell
Sell
SAR (0.02; 0.2)
Sell
Sell
Buy
Aggregate
⇒
⇒
⇒
The Ethereum cryptocurrency has been trading between the upper and lower boundaries of a horizontal channel for the past week. The 50-hour simple moving average was providing resistance for the pair at 110.3 during the previous trading sessions.
Everything being equal, it is likely that the 50-hour SMA could push the cryptocurrency towards a support level at 104.36.
However, given that the ETH/USD pair is located near the upper boundary of a descending channel pattern, a breakout could be expected within this session.
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