ETH/USD Bounces Back Ahead of Monthly Low
ETH/USD appears to be bouncing back ahead of the monthly low ($2107) as it trades back above the 50-Day SMA ($2262).
ETH/USD Outlook
ETH/USD carves a series of higher highs and lows following the failed attempts to close below the $2176 (61.8% Fibonacci extension) to $2228 (50% Fibonacci extension) region, with a breach above the $2316 (61.8% Fibonacci retracement) to $2353 (78.6% Fibonacci extension) zone bring the $2547 (38.2% Fibonacci extension) to $2580 (100% Fibonacci extension) area on the radar.
ETH/USD may track the positive slope in the moving average as it trades back above the indicator, but failure to break/close above the $2316 (61.8% Fibonacci retracement) to $2353 (78.6% Fibonacci extension) zone may push Ethereum back towards the $2176 (61.8% Fibonacci extension) to $2228 (50% Fibonacci extension) region.
ETH/USD Outlook
ETH/USD carves a series of higher highs and lows following the failed attempts to close below the $2176 (61.8% Fibonacci extension) to $2228 (50% Fibonacci extension) region, with a breach above the $2316 (61.8% Fibonacci retracement) to $2353 (78.6% Fibonacci extension) zone bring the $2547 (38.2% Fibonacci extension) to $2580 (100% Fibonacci extension) area on the radar.
ETH/USD may track the positive slope in the moving average as it trades back above the indicator, but failure to break/close above the $2316 (61.8% Fibonacci retracement) to $2353 (78.6% Fibonacci extension) zone may push Ethereum back towards the $2176 (61.8% Fibonacci extension) to $2228 (50% Fibonacci extension) region.
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