ETH/USD sandwiched between robust stacks of resistance and support

  • ETH/USD had a bullish start to Friday following a heavily bearish Thursday.
  • The support stack lies from $183 – $185.

ETH/USD had a bullish start this Friday. This followed a heavily bearish Thursday where the price dropped from $191.30 to $186.65 negating the gains of Tuesday and Wednesday. So far this Friday, ETH/USD went up from $186.65 to $187.40. The price of the asset is currently sandwiched between really healthy stacks of support and resistance, so further movement may be difficult.

ETH/USD daily confluence detector

On the upside, there is a resistance stack from $187-$191 and a moderate level at $194. $187-$191 has the five-day Simple Moving Average (SMA 5), SMA 10, SMA 50, SMA 100, 4-hour previous high, 15-min previous high, one-week Fibonacci 38.2% retracement level, one-hour Bollinger band, one-hour previous high, 15-min Bollinger band upper curve, one-month Fibonacci 23.6% Fibonacci retracement level, four-hour Bollinger band middle curve, one-day Previous low and one-week Fibonacci 23.6% retracement level. $194 has the four-hour Bollinger band upper curve, one-day Fibonacci 23.6% retracement level and previous week high.

On the downside, there is a support stack from $183-$185 and the level at $182.25. $183-$185 has the one-hour Bollinger band lower curve, one-day pivot point support two, four-hour previous low, SMA 50, one-week Fibonacci 61.8% retracement level, four-hour Bollinger band lower curve and one-day Fibonacci 161.8% retracement level. $182.25 has the daily pivot point support three and one-month Fibonacci 38,2% retracement level.