ETHUSD Perpetual Futures Contract Goes Bullish

16 apr 2020

Ethereum starts to look good vs the U.S. Dollar (ETHUSD), its price is now facing resistance, let's see what the chart has to say.

A strong bounce is taking place today after 8 days of retrace, just a little over a week.
The trading volume is coming in for ETHUSD, but still average.

• Prices easily moved to pass EMA10 (green) and EMA50 (magenta).
  
• Prices are now stuck below EMA100 (blue) and MA200 (black).
  

• If EMA100/MA200 can be conquered today, Ethereum is very likely to continue higher and hit $185 followed by $210+.
  
• If EMA100/MA200 rejects the growth as it happened in early April (yellow), we will test the different support levels, marked with blue dashed lines.
  

Here we have the ETHUSD daily timeframe chart fully mapped.

Conditions for change
The direction can still easily change. These signals are only confirmed at the end of the day (when the candle closes).

Thanks a lot for your support.

Namaste.