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Ethereum price analysis: Bears remain in the driver’s seat as ETH/USD continues to fall

  • The Elliott Oscillator has had a red session after seven straight green sessions.
  • The MACD indicator contains to sustain bearish momentum.
Ethereum price analysis: Bears remain in the driver’s seat as ETH/USD continues to fall
Rajarshi MitraRajarshi MitraIndependent Analyst

ETH/USD daily chart

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ETH/USD has fallen from $147.65 to $145.20 in the early hours of Wednesday. The price is floating below the 200-day Simple Moving Average (SMA 200), SMA 50 and SMA 20 curves. The Moving Average Convergence/Divergence (MACD) shows us that the MACD and signal lines are running in parallel to each other - indicating sustained bearish momentum. The Elliott Oscillator has had a red session after seven straight green sessions, while the Relative Strength Index (RSI) indicator is trending around 34.
 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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