ETH/USD gives back early gains to trade below $146.00

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  • ETH/USD is under pressure despite the recovery from the intraday low.
  • The critical resistance is located at $150.00.

ETH/USD is trading `under $146.00, off the intraday low at $144.03. Despite the sharp movements on Wednesday, November 4, and during early Asian hours on Thursday, the second-largest digital asset has stayed unchanged on a day-to-day basis. 

Ethereum’s technical picture

On the intraday charts, ETH/USD recovery is capped by a combination of SMA50 (Simple Moving Average) and the middle line the Bollinger Band on a 1-hour chart at $147.00. We will need to see a sustainable move above this barrier for the upside to gain traction.  The next resistance awaits us at psychological l $150.00 reinforced by SMA200 1-hour. Once it is out of the way, the upside is likely to gain traction with the next focus on the pivotal  $159.00. 

On the downside, the initial support is created by the intraday low at $144.00. Once it is out of the way, the sell-off may continue towards $143.51 (November 4 low) and psychological $140.00.

ETH/USD, 1-hour chart



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