Ethereum Price Analysis: ETH/USD bulls tire out as they reach the upper curve of the 20-day Bollinger Band
|- ETH/USD bears stepped in following three straight bullish sessions.
- The MACD shows increasing bullish momentum.
- William’s %R is trending within the overbought zone, indicating that further bearish correction may be around the corner.
ETH/USD daily chart
ETH/USD dropped from $220.60 to $219.40 in the early hours of Saturday after three consecutive bullish sessions. The bulls ran out of steam as the price neared the upper curve of the 20-day Bollinger Band. The MACD shows increasing bullish momentum, while William’s %R is trending within the overbought zone, indicating that further bearish correction may be around the corner.
Support and Resistance
ETH/USD bulls faced stiff resistance at $229.15 and $238.20. On the downside, healthy support levels lie at $214.35, $208.70, SMA 20 and SMA 50.
Key levels
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