ETH/USD Technical Analysis: ETH/USD drops 5% in 3 hours

ETH/USD hourly chart

• ETH/USD went down from $139 to $132 as the market lost 5% of its value in just 3 hours.

ETH/USD daily chart

• The Ichimoku indicator shows that the daily ETH/USD market is trending within the green cloud. This indicates that a breakout is imminent.
• The moving average convergence/divergence shows that bearish momentum increased in the last session. 

ETH/USD 4-hour chart

• The last session in the 4-hour ETH/USD chart pulled the price below both the 20-day simple moving average (SMA 20) and SMA 50.
• The market is still trending above the SMA 200 curve.
• The relative strength index (RSI) curve has taken a sharp downtrend towards the oversold territory.
• The last session was so strongly bearish it registered a bearish movement on the Elliot Wave (34,5) oscillator, even though 4 out of the previous 5 sessions were bullish.

Key Levels

• Resistance 3: $145.54
• Resistance 2: $143.41
• Resistance 1: $140.47
• Pivot Point: $138.34
• Support 1: $135.40
• Support 2: $133.27
• Support 3: $130.34