Ethereum technical analysis: ETH/USD finds support at $166.60 after five straight bearish days
|- ETH/USD has gone up from $166.60 to $172.60 so far this Wednesday.
- The Elliott Oscillator has had three straight bearish sessions.
ETH/USD daily chart
ETH/USD found has gone up from $166.60 to $172.60 so far today. This Tuesday was heavily bearish as the price plummetted from $201.45 to $166.60. The price is trending below the 200-day Simple Moving Average (SMA 200), SMA 50 and SMA 20 curves. The SMA 20 has crossed over the SMA 50, which is a bullish sign. The Elliott Oscillator has had three straight bearish sessions.
ETH/USD four-hour chart
The ETH/USD four-hour chart has dropped below the red Ichimoku cloud. The four-hour chart has fallen from $192.50 to $168.20 in just four hours. The bulls have since stepped back in to recover ETH/USD. The price chart is trending below the SMA 200, SMA 50 and SMA 20 curves. The Moving Average Convergence/Divergence (MACD) indicator shows 28 straight bearish sessions of increasing intensity.
ETH/USD hourly chart
The hourly ETH/USD dropped from $189.40 to $165.25 within an hour and fell below the 20-day Bollinger Band in the process. Since then, the price has trended horizontally to bring it back into the Bollinger Band. The 20-day Bollinger jaw has widened, indicating increasing market volatility The Relative Strength Index (RSI) indicator has crept out of the oversold zone.
Key Levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.