Ethereum technical analysis: ETH/USD drops below $190
- The SMA 20 curve is looking to cross over the SMA 50 curve in the daily chart.
- The 4-hour chart shows five consecutive red sessions in the Elliot Oscillator.
ETH/USD daily chart
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The price of ETH/USD has gone down from $191.45 to $189.60. The 20-day Simple Moving Average (SMA 20) curve is looking to cross over the SMA 50, which is a bullish sign. The Moving Average Convergence/Divergence (MACD) indicates sustained bullish momentum.
ETH/USD 4-hour chart
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The four-hour chart has support at the upward trending line and is floating above the SMA 20, SMA 50 and SMA 200 curves. The Elliott Oscillator shows four straight red sessions. The price chart was about to break above the 20-day Bollinger band before it managed to correct itself.
ETH/USD hourly chart
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The hourly chart shows us that the price fell from $191.45 to $189.50 in just two hours. The price has found support at the SMA 20 curve. The hourly price is floating above the green Ichimoku cloud. The Relative Strength Index (RSI) indicator is trending around 46.85.
Key Levels
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
