ETHUSD is extending the Channel Up on the 1D chart since December 2019 low. Currently it is attempting a break out above the 199 Resistance.
Levels to watch:
- The Resistance is at 225.00 while the Support at 153.50.
- The former 199.00 Resistance is being tested at the moment.
- The MA50 is now on the 153.50 Support.
- The price is above the MA200 for the first time since September 2019.
Projection:
- Even though it is still marginal, the break above the 199.00 level is a call for further upside within the Channel Up. The 225.00 Resistance fits well with a new Higher High. Also the extension from the latest Higher Low will be 45%, similar to the last Higher High extension.
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Levels to watch:
- The Resistance is at 225.00 while the Support at 153.50.
- The former 199.00 Resistance is being tested at the moment.
- The MA50 is now on the 153.50 Support.
- The price is above the MA200 for the first time since September 2019.
Projection:
- Even though it is still marginal, the break above the 199.00 level is a call for further upside within the Channel Up. The 225.00 Resistance fits well with a new Higher High. Also the extension from the latest Higher Low will be 45%, similar to the last Higher High extension.
If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!