Ethereum price analysis: ETH/USD continues to consolidate in a flag formation
|- ETH/USD is currently priced at $217.25 in the early hours of Saturday.
- The price is trending below the green Ichimoku cloud.
ETH/USD currently consolidating in a flag formation for the last three days. ETH/USD is priced at $217.25 at the time of writing. The hourly price chart shows that the price first went up to $217.50, where it met resistance and then fell to $215.85. The bulls then re-entered the fray and took the price up to $217.25.
ETH/USD daily chart
The daily price is trending below the green Ichimoku cloud and the 20-day simple moving average (SMA 20) curve acts as immediate market resistance. The bulls will want to overcome resistance at SMA 20 and $222. The moving average convergence/divergence (MACD) shows five straight bullish sessions. The Elliot oscillator has had 15 bullish sessions out of the last 16.
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