Ethereum technical analysis: ETH/USD keeps trending in an upward channel formation
|- Elliott Oscillator has had six straight bullish sessions in the daily chart.
- The four-hour chart has found resistance at the upper curve of the 20-day Bollinger band.
ETH/USD daily chart
ETH/USD daily chart is currently trending in an upward channel formation. This Wednesday, the price is trending around $191 and must break past resistance at $193 to continue the positive momentum. The 20-day Simple Moving Average (SMA 20) and SMA 50 curves are acting as market support. The Elliott Oscillator has had six straight bullish sessions.
ETH/USD four-hour chart
The four-hour ETH/USD market has found resistance at the upper curve of the 20-day Bollinger band. The price was consolidating for a bit before it had a mini breakout. The Moving Average Convergence/Divergence (MACD) indicates increasing bullish momentum.
ETH/USD hourly chart
The hourly ETH/USD was floating in the red Ichimoku cloud before it broke above and met resistance at the $192.65 line and fell to around $191.60. The market is trending above the SMA 20, SMA 50 and SMA 200 curves. The Relative Strength Index (RSI) indicator is at 65.15, right next to the overbought zone.
Key Levels
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