ETH/USD Tests 3543 Upside Objective on Move to New Lifetime High: Sally Ho’s Technical Analysis 5 May 2021 ETH

Ethereum (ETH/USD) resumed its upward trajectory early in the Asian session as the pair appreciated to the 3332 level after trading as low as the 3175 area during the North American session, with the interday low representing a test of the 50-hour simple moving average.  Traders pushed BTC/USD as high as the 3534.50 area during the North American session, a fresh lifetime high that also represented a test of an upside price objective at the 3543.39 area.  Stops were recently elected above several upside price objectives during ETH/USD’s sharp rise, including the 3067.80, 3164.19, 3174.26, 3181.61, and 3239.60 levelsStops were earlier elected above the 2865.42, 2677.40, and 2585.62 areas.

Additional upside price objectives include the 3902.15, 4113.61, and 4136.61 areas levels.  During a recent pullback, Stops were also recently elected below the 2311.47, 2251.76, 2165.15, 2068.50, and 2046.89 levels.  Potential technical support levels during pullbacks include the 3038.86, 2935.01, 2824.11, and 2698.63 areas.  Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 2860.30 and the 50-bar MA (Hourly) at 3203.29.

Technical Support is expected around 2624.00/ 2515.12/ 2427.13 with Stops expected below.

Technical Resistance is expected around 3543.39/ 3902.15/ 4113.61 with Stops expected above.

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

                                                                                                                                                                     

Disclaimer: This trading analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Source: https://cryptodaily.co.uk/2021/05/eth-usd-tests-3543-upside-objective-on-move-to-new-lifetime-high-sally-ho-technical-analysis-5-may-2021-eth-ethereum