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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB, formerly known as Binance Coin, continues to trade down around $855 at the time of writing on Tuesday, after a slight decline the previous day. Bearish sentiment further strengthens as BNB’s on-chain and derivatives data show rising retail activity.

Top Crypto Losers: Aster, Midnight, and Ethena extend losses as selling pressure mounts

Aster, Midnight, and Ethena are the altcoins with the most losses over the last 24 hours, as the broader cryptocurrency market weakens amid Bitcoin dropping below $86,000. ASTER, NIGHT, and ENA risk further losses as selling pressure mounts and risk-off sentiment spreads across the crypto market.

Ethereum Price Forecast: BitMine acquires 102,259 ETH as price plunges 5%

Ethereum (ETH) treasury company BitMine Immersion scaled up its digital asset stash last week after acquiring 102,259 ETH since its last update. The purchase has increased the company's holdings to 3.96 million ETH, worth about $11.82 billion at the time of publication.

Strategy scoops about $1 billion in Bitcoin for second consecutive week

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