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Ethereum price analysis (ETH) 04/27/2020


Ethereum we can see today as it is breaking important supports after a small accumulation in the price above $ 193. Unfortunately it has not been able to hold and now we have it at $ 192.11, we are in a somewhat confusing scenario where anything can happen.

On the one hand we have that Ethereum can bounce back from current levels and go back to look for the resistances reached over the weekend or there is also the possibility that the price will fall back to the pivot point of the week at $ 188 or resistance at $ 189 .

These last two points are key this week and represent the beginning of a deeper correction or a bounce point to continue the upward trend. At the moment there is no entry signal for the next few hours, the best point to enter would be when you touch the pivot or in a bullish scenario when you break the resistance again at $ 197 and close above it, all with the aim of going to look for the R1 weekly at $ 209.

In case of a breakout of the pivot point, we would surely go for the weekly S1 that just coincides with the 23% fibonacci level as well as an uptrend line marked since the beginning of the momentum on March 16.

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