{"id":107131,"date":"2021-01-04T18:02:49","date_gmt":"2021-01-04T18:02:49","guid":{"rendered":"https:\/\/precoinnews.com\/?p=107131"},"modified":"2021-01-04T18:02:49","modified_gmt":"2021-01-04T18:02:49","slug":"eth-usd-orbiting-1000-figure-after-recovery-sally-hos-technical-analysis-4-january-2021-eth","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/ethereum\/eth-usd-orbiting-1000-figure-after-recovery-sally-hos-technical-analysis-4-january-2021-eth\/","title":{"rendered":"ETH\/USD Orbiting 1000 Figure After Recovery: Sally Ho’s Technical Analysis 4 January 2021 ETH"},"content":{"rendered":"
Ethereum (ETH\/USD<\/strong>) reclaimed some lost ground early in today’s North American<\/strong> session as the pair marched higher<\/strong> to the 1059.74<\/strong> area after trading as low<\/strong> as the 886.33<\/strong> area during the European<\/strong> session. Prior to the pullback<\/strong>, ETH\/USD rocketed higher<\/strong> to the 1168.99<\/strong> area, a fresh multi-year high<\/strong> that was established after Stops<\/strong> were elected above<\/strong> upside price objectives<\/strong> including 976.68<\/strong>, 1013.45<\/strong>, 1043.34<\/strong>, 1072.78<\/strong>, 1086.45<\/strong>, 1133.44<\/strong>, and 1150.21<\/strong>. Notably, the recent relative high<\/strong> of 1168.99<\/strong> represented a test<\/strong> of another upside price objective<\/strong>, the 1163.93<\/strong> area that became technically significant<\/strong> based on upside buying pressure<\/strong> that emerged around the 370.50<\/strong> area in 2020<\/strong>. Strong Stops<\/strong> were recently elected above<\/strong> the 819.23<\/strong>, 877.81<\/strong>, and 879.23 levels<\/strong> during the sharp ascent<\/strong>, upside price objectives<\/strong> related to previous buying activity<\/strong> around the 625.01<\/strong> and 530.32<\/strong> areas. Additional upside price objectives<\/strong> include the 1239.06<\/strong>, 1381.03<\/strong>, 1439.98<\/strong>, 1582.86<\/strong>, and 1665.31<\/strong> areas. <\/p>\n Traders also note that sizable Stops<\/strong> were elected <\/strong>during the move higher above<\/strong> the 1103.87<\/strong> area, a level <\/strong>that represents the 76.4% retracement<\/strong> of a historical depreciating range<\/strong> from 1419.96<\/strong> to 80.60<\/strong>. Additional significant Stops<\/strong> were recently elected above<\/strong> the 615.19<\/strong>, 637.79<\/strong>, 668.87<\/strong>, 679.78<\/strong>, and 698.88<\/strong> area during the march to successive multi-year highs<\/strong>, and traders are curious to see how supportive<\/strong> those levels <\/strong>become during pullbacks lower<\/strong>. Following the pair’s recent moves to successive multi-year highs<\/strong>, downside retracement levels<\/strong> and areas of potential technical support<\/strong> include the 863.97<\/strong>, 842.00<\/strong>, 828.97<\/strong>, 787.22<\/strong>, 750.28<\/strong>, and 718.33 levels<\/strong>. ETH\/USD<\/strong> gained approximately 21% month-to-date<\/strong> in December<\/strong>, and closed 2020<\/strong> with approximately a 450% gain<\/strong>. Traders are observing<\/strong> that the 50-bar MA (4-hourly)<\/strong> is bullishly indicating above<\/strong> the 100-bar MA (4-hourly)<\/strong> and above <\/strong>the 200-bar MA (4-hourly).<\/strong> Also, the 50-bar MA (hourly)<\/strong> is bullishly <\/strong>indicating above <\/strong>the 100-bar MA (hourly)<\/strong> and above <\/strong>the 200-bar MA (hourly)<\/strong>.<\/p>\n Price activity is nearest the 50-bar MA<\/strong> (4-hourly) at 770.71 <\/strong>and the 50-bar MA<\/strong> (Hourly) at 898.82.<\/strong><\/p>\n Technical Support <\/strong>is expected around 792.40\/ 766.54\/ 729.88 <\/strong>with Stops<\/strong> expected below.<\/p>\n Technical Resistance<\/strong> is expected around 1239.06\/ 1381.03\/ 1439.98 <\/strong>with Stops <\/strong>expected above.<\/p>\n On 4-Hourly<\/strong> chart, SlowK<\/strong> is Bearishly below SlowD<\/strong> while MACD<\/strong> is Bullishly above MACDAverage<\/strong>.<\/p>\n On 60-minute<\/strong> chart, SlowK<\/strong> is Bearishly below SlowD<\/strong> while MACD<\/strong> is Bearishly below MACDAverage<\/strong>.<\/p>\n Related TAGS: <\/p>\n You can share this post!<\/p>\n