{"id":110740,"date":"2021-01-29T15:41:04","date_gmt":"2021-01-29T15:41:04","guid":{"rendered":"https:\/\/precoinnews.com\/?p=110740"},"modified":"2021-01-29T15:41:04","modified_gmt":"2021-01-29T15:41:04","slug":"eth-usd-bulls-stampede-from-1287-05-technical-support-sally-hos-technical-analysis-29-january-2021-eth","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/ethereum\/eth-usd-bulls-stampede-from-1287-05-technical-support-sally-hos-technical-analysis-29-january-2021-eth\/","title":{"rendered":"ETH\/USD Bulls Stampede from 1287.05 Technical Support: Sally Ho’s Technical Analysis 29 January 2021 ETH"},"content":{"rendered":"
Ethereum (ETH\/USD<\/strong>) made huge gains <\/strong>early in today’s North American<\/strong> session as the pair appreciated<\/strong> to the 1432.00<\/strong> area after trading as low <\/strong>as the 1286.56<\/strong> area during the Asian<\/strong> session, with the intraday low<\/strong> representing a test<\/strong> of the 61.8% retracement<\/strong> of the depreciating range<\/strong> from 1440<\/strong> to 1039.62<\/strong>. Stops <\/strong>were elected above<\/strong> the 1388.56<\/strong> area en route to a test<\/strong> of the 1427.59<\/strong> area, representing the 78.6% retracement <\/strong>of the depreciating range<\/strong> from 1477.30<\/strong> to 1245<\/strong>. Traders are waiting to see if ETH\/USD bulls<\/strong> have the strength to establish a new multi-year high above<\/strong> the 1477.30<\/strong> area. 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. 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. <\/p>\n 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>. 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 50-bar MA<\/strong> (4-hourly) at 1299.93 <\/strong>and the 100-bar MA<\/strong> (Hourly) at 1324.94.<\/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 Bullishly above SlowD<\/strong> while MACD<\/strong> is Bullishly above MACDAverage<\/strong>.<\/p>\n On 60-minute<\/strong> chart, SlowK<\/strong> is Bullishly above SlowD<\/strong> while MACD<\/strong> is Bullishly above 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