• 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.
     

(Excerpt) Read more Here | 2019-05-17 00:54:00
Image credit: source

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