ETH/USD on course of charting six straight bullish days

  • ETH/USD went up from $198 to $198.20 in the early hours of Tuesday.
  • This Monday, ETH/USD peaked above the 20-day Bollinger band upper curve.

ETH/USD has had a bullish start to Tuesday, wherein the price went up from 198 to $198.20. In the process, Ethereum managed to have six straight bullish days. Over this period, ETH/USD has gone up from $178.40 to $198.20, going up by 11.10%. The hourly breakdown of Ethereum shows us that this Monday, the price went up to $195, where it met resistance and trended horizontally for a bit. After that, the bears took over and the price dropped from $194 to $189.60 within three hours. However, the bulls soon took charge and spiked the price from $191.80 to $199.48 within one hour. The price then corrected around $198.20.

ETH/USD daily chart

This Monday, the price peaked above the 50-day simple moving average (SMA 50) and the 20-day Bollinger band curves. The price is also trending below the SMA 200 curve. The widening of the Bollinger jaw shows increasing market volatility. The moving average convergence/divergence (MACD) shows increasing bullish momentum and the Elliott oscillator shows 16 straight bullish sessions of growing intensity. The relative strength index (RSI) indicator is trending around 63.15.
 

Be the first to comment

Leave a Reply

Your email address will not be published.


*