Ethereum Price Analysis: ETH/USD bears remained in control as the price consolidates below the $215 level

ETH/USD bears remained in control of the market for the second straight day.
William’s %R is trending around -5.55 in the overbought zone, so more bearish correction may be expected.
The MACD shows that the market momentum has reversed from bearish to bullish.

Rajarshi Mitra Independent Analyst

ETH/USD daily chart

ETH/USD bears remained in control for the second straight day as the price fell from $214.66 to $213.46. Despite the adverse price action, the MACD shows that the market momentum has reversed from bearish to bullish. William’s %R is trending around -5.55 in the overbought zone, so more downward price correction may be expected.

The price faces two strong resistance levels on the upside at $223 and $232.63. On the downside, healthy support lies at $207.15, SMA 20 and $197.

Key levels

ETH/USD

Overview
Today last price	213.6
Today Daily Change	-1.06
Today Daily Change %	-0.49
Today daily open	214.66

Trends
Daily SMA20	204.32
Daily SMA50	183.2
Daily SMA100	190.87
Daily SMA200	175.42

Levels
Previous Daily High	215.83
Previous Daily Low	209.23
Previous Weekly High	210.04
Previous Weekly Low	176.19
Previous Monthly High	227.37
Previous Monthly Low	128.95
Daily Fibonacci 38.2%	211.75
Daily Fibonacci 61.8%	213.31
Daily Pivot Point S1	210.65
Daily Pivot Point S2	206.64
Daily Pivot Point S3	204.05
Daily Pivot Point R1	217.26
Daily Pivot Point R2	219.85
Daily Pivot Point R3	223.86

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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Ethereum Price Analysis: ETH/USD bears remained in control as the price consolidates below the $215 level