- ETH/USD went up from $264.75 to $267 this Friday.
- Bulls face resistances of differing intensities.
Ethereum bulls continue to have a stranglehold on the market as they aim for $300. The daily confluence detector shows that the price is currently facing four distinct resistance levels on its path to $300. While the resistances are of differing intensities, the bulls still have quite a task ahead of them.
ETH/USD Daily Confluence Detector
The resistance levels are at $265, $274, $280, and $294. The confluences at those levels are:
- $265: 10-day simple moving average (SMA 10) and SMA 5.
- $274: Pivot point 1-Day resistance 2.
- $280: 4-hour previous high and 4-hour Bollinger band upper curve.
- $294: Pivot point 1-Day resistance 3.
The support levels are at $262, $250, $243, $238-$241, and $237. The confluences at those levels are:
- $262: Hourly Bollinger band middle curve and pivot point 1-Day resistance 1.
- $250: 1-Day previous high and SMA 10.
- $243: Daily 23.6% Fibonacci retracement level.
- $238-$241: Daily 38.2% Fibonacci retracement level.
- $237: 1-Month pivot point resistance 3.