- ETH // USD bears took control in the early hours of Saturday.
- The daily confluence detector shows a strong resistance level at $ 397.
ETH / USD daily confluence detector
ETH / USD bears took control of the market after a strongly bullish Friday. In the early hours of Saturday, the price rose from $ 393.35 to $ 392.50. According to the daily confluence detector, ETH / USD only needs to conquer the $ 397 resistance level to get into the $ 400 territory. This level has the Fibonacci retracement level at 23.6% on a day and SMA 10 on a day.
On the other hand, there is immediate support for $ 392, which has the monthly pivot point of one resistance and an overnight Fibonacci retracement level of 38.2%. If bears wish to continue their momentum, they will need a beak below this level. Along with this, there is another level of support to $ 352, which has the previous month’s high and the weekly pivot point a support-two.