{"id":110422,"date":"2021-01-27T16:46:49","date_gmt":"2021-01-27T16:46:49","guid":{"rendered":"https:\/\/precoinnews.com\/?p=110422"},"modified":"2021-01-27T16:46:49","modified_gmt":"2021-01-27T16:46:49","slug":"eth-usd-tests-technical-support-at-1206-52-sally-hos-technical-analysis-27-january-2021-eth","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/ethereum\/eth-usd-tests-technical-support-at-1206-52-sally-hos-technical-analysis-27-january-2021-eth\/","title":{"rendered":"ETH\/USD Tests Technical Support at 1206.52: Sally Ho’s Technical Analysis 27 January 2021 ETH"},"content":{"rendered":"
Ethereum (ETH\/USD<\/strong>) extended its recent pullback<\/strong> early in today’s North American<\/strong> session as the pair depreciated<\/strong> to the 1224.01<\/strong> area after trading as high<\/strong> as the 1375.91<\/strong> area during the Asian<\/strong> session, a test<\/strong> of the 50% retracement<\/strong> of the depreciating range<\/strong> from 1477.30<\/strong> to 1245.00<\/strong> and the 50-hour simple moving average<\/strong>. Stops<\/strong> were elected below<\/strong> the 1239.81<\/strong> area during the North American<\/strong> session, representing the 50% retracement<\/strong> of the depreciating range<\/strong> from 1440<\/strong> to 1039.62<\/strong>. The next downside retracement levels <\/strong>in this depreciating range<\/strong> include 1192.57<\/strong> and 1134.11<\/strong>. Another range that traders are carefully monitoring is the appreciating range<\/strong> from 1039.62<\/strong> to 1477.30<\/strong>, with the next downside retracement levels<\/strong> in this appreciating range<\/strong> around the 1206.81<\/strong>, 1142.91<\/strong>, and 1133.28<\/strong> areas. ETH\/USD<\/strong> this week traded at a fresh multi-year high<\/strong> around the 1477.30 level<\/strong> after Stops<\/strong> were elected above<\/strong> many significant upside price objectives<\/strong>, including the 1351.18<\/strong>, 1381.03<\/strong>, 1412.74<\/strong>, 1427.89<\/strong>, 1439.98<\/strong>, and 1447.83<\/strong> areas. These levels<\/strong> are technically significant<\/strong> as they directly related to buying pressure<\/strong> that emerged around levels<\/strong> including the 370.50<\/strong>, 176.43<\/strong>, 148.08<\/strong>, 439.77<\/strong>, 123.72<\/strong>, and 310.79<\/strong> areas. If ETH\/USD<\/strong> is able to extend<\/strong> its recent comeback <\/strong>further, some areas of potential technical resistance<\/strong> include the 1477.71<\/strong>, 1582.86<\/strong>, and 1665.31<\/strong> areas. Some Stops<\/strong> were recently elected above<\/strong> the 1256.15<\/strong>, 1307.31<\/strong>, and 1315.02<\/strong> areas, upside retracement levels<\/strong> related to the recent depreciating range<\/strong> from 1390<\/strong> to 1039.62<\/strong>. <\/p>\n During ETH\/USD’s<\/strong> recent move higher<\/strong> to multi-year highs<\/strong>, Stops<\/strong> were recently elected above<\/strong> the 1072.78<\/strong>, 1133.44<\/strong>, 1163.93<\/strong>, 1176.28<\/strong>, 1225.30<\/strong>, and 1230.73<\/strong> areas, and selling pressure intensified below<\/strong> these areas during the pullback<\/strong>. Notably, these levels<\/strong> represented technically significant<\/strong> upside price objectives<\/strong> related to historical buying pressure<\/strong> around the 215.16<\/strong>, 625.01<\/strong>, 370.50<\/strong>, 480.08<\/strong>, 530.32<\/strong>, and 310.79<\/strong> areas. If ETH\/USD reverses<\/strong> recent gains and the psychologically-important 1000 figure<\/strong> cannot be held, technical<\/strong> traders will eye additional downside retracement<\/strong> areas including the 976.37<\/strong>, 954.16<\/strong>, 941.22<\/strong>, 917.03<\/strong>, 915.48<\/strong>, 902.24<\/strong>, 895.33<\/strong>, 869.22<\/strong>, 860.69<\/strong>, 856.83<\/strong>, 844.44<\/strong>, 831.94<\/strong>, 828.97<\/strong>, 812.73<\/strong>, 783.02<\/strong>, 770.03<\/strong>, 763.66<\/strong>, 750.28<\/strong>, 745.01<\/strong>, and 723.97<\/strong> areas. 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 bearishly <\/strong>indicating below <\/strong>the 100-bar MA (hourly)<\/strong> and above <\/strong>the 200-bar MA (hourly)<\/strong>.<\/p>\n Price activity is nearest the 100-bar MA<\/strong> (4-hourly) at 1234.03 <\/strong>and the 200-bar MA<\/strong> (Hourly) at 1303.68.<\/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 1477.30\/ 1582.86\/ 1606.62 <\/strong>with Stops <\/strong>expected above.<\/p>\n On 4-Hourly<\/strong> chart, SlowK<\/strong> is Bearishly below SlowD<\/strong> while MACD<\/strong> is Bearishly below 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 <\/p>\n 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.<\/p>\n Related TAGS: <\/p>\n You can share this post!<\/p>\n