Ethereum Price Analysis: ETH/USD bears take control as price falls below $235
|- ETH/USD faces bearish correction following bullish Tuesday.
- The Elliott Oscillator has had seven straight red sessions.
ETH/USD daily chart
ETH/USD dropped from $235.40 to $234 in the early hours of Wednesday following a bullish Tuesday. The price is sandwiched between the SMA 20 and the upward trending line. The 20-day Bollinger jaw has narrowed, which indicates that overall price volatility is decreasing. The Elliott Oscillator has had seven straight red sessions, showing sustained bearish sentiment.
Support and Resistance
ETH/USD has strong resistance levels at $237.40, SMA 20 and $248. On the downside, healthy support lies at $229.8, $220.65 and SMA 50
Key levels
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