Ethereum Price Analysis: ETH/USD bears take back control as price fails near the $240–level

ETH/USD sellers stepped back in following a bullish Friday.
The MACD shows increasing bearish market momentum.

Rajarshi Mitra Independent Analyst

ETH/USD daily chart

ETH/USD bears came back strong as the price fell from $237.55 to $236.88 in the early hours of Saturday. The MACD shows increasing bearish momentum, while the Elliott Oscillator has had three straight red sessions, indicating increasing bearish market sentiment.

Support and Resistance

ETH/USD has two strong resistance levels on the upside at $241.15 and $248.30. Plus, there are four healthy support levels at SMA 20, $230.50, $220.80 and SMA 50.

Key levels

ETH/USD

Overview
Today last price	236.96
Today Daily Change	-0.59
Today Daily Change %	-0.25
Today daily open	237.55

Trends
Daily SMA20	231.84
Daily SMA50	214.69
Daily SMA100	185.62
Daily SMA200	181.3

Levels
Previous Daily High	239.31
Previous Daily Low	228.09
Previous Weekly High	250.41
Previous Weekly Low	225.52
Previous Monthly High	247.15
Previous Monthly Low	176.19
Daily Fibonacci 38.2%	235.03
Daily Fibonacci 61.8%	232.38
Daily Pivot Point S1	230.66
Daily Pivot Point S2	223.76
Daily Pivot Point S3	219.44
Daily Pivot Point R1	241.88
Daily Pivot Point R2	246.21
Daily Pivot Point R3	253.1

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 take back control as price fails near the $240–level