Ethereum Price Analysis: ETH/USD bears remain in full control as price falls below $160.
- Previously, ETH/USD had fallen from $173.42 to $169.91
- The SMA 200 act as immediate market resistance.
ETH/USD daily chart
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ETH/USD failed to break above the SMA 200 curve as the price of the asset from $169.91 to $158.50. ETH/USD was hovering above the 20-day Bollinger Band, indicating that it was overpriced, before dropping back down into the Band. The SMA 200 is on course to cross over the SMA 50 and chart the heavily bearish death cross pattern. The MACD shows decreasing bullish momentum while the RSI has dipped from 60.38 to 50.94.
Author
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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