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Ethereum- ETH Bulls Tease the 50-Day MA

Ethereum ETHUSD
Ethereum ETH

Ethereum ETH continues higher today adding 0.10% at $180.30 as the rebound from recent lows at $153 continues targeting a break above the 50-day moving average. Bears are controlling the number two cryptocurrency, but today ETH manage to break above $183.78 but as of writing the price retreated below the 50-day moving average. ETHUSD has gained 18% since the $153 lows. On the downside, first support for Ethereum stands at 179.83 daily low below this level, next support stands at $169.50 yesterday’s low, while more bids might await at the lows seen on September 24th at $153.

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On the upside, immediate resistance for Ethereum now stands at 185.30 today’s high, while more selling pressure will be met at $208.53 at the 100-day moving average. Today is a crucial day for ethereum, if the price close above the 50-day moving average, probably we will see a move up to $190. If ETHUSD fails to return above the $183.78 level we might see a correction down to $170.

Ethereum market capitalisation stands at 19.53 billion with the trading volume today reaching 8.10 billion. Bitcoin trades at $8,161 with a market cap at 147.5 billion and Litecoin – LTC trades at $56.93 with a market cap at 3.64 billion. The 100 biggest cryptocurrencies market capitalization now stands at 221.48 billion.Download our latest quarterly market outlook for our longer-term trade ideas.

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