ETH/USD Technical Analysis: Bulls and Bears wrestle around the $170 level
|ETH/USD Daily Chart
- ETH/USD is currently trading for $169.75.
- The market is prime for a breakout from the triangle formation.
- The price is trending above the SMA 200, SMA 50, and SMA 20 curves.
- The signal line and MACD line are converging towards each other very slowly, as the bullish momentum decreases.
ETH/USD 4-Hour Chart
- The squeeze in the 20-day Bollinger band indicates lower market volatility.
- The 4-hour market is trending below the SMA 20 curve and above the SMA 200 and SMA 50 curves.
- The Elliot oscillator has six consecutive bearish sessions. 14 out of the last 16 sessions were bearish.
ETH/USD Hourly Chart
- The hourly ETH/USD price found resistance at the green cloud of the Ichimoku Indicator and went down.
- The nearest support level is at $169.35 from which the market found support and then bounced up.
- The relative strength index (RSI) indicator is at 45.31.
Key Levels
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