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Ethereum Price Analysis: ETH/USD bears take control as price falls below $235

  • ETH/USD faces bearish correction following bullish Tuesday.
  • The Elliott Oscillator has had seven straight red sessions.
Ethereum Price Analysis: ETH/USD bears take control as price falls below $235
Rajarshi MitraRajarshi MitraIndependent Analyst

ETH/USD daily chart

ETH/USD daily chart

ETH/USD dropped from $235.40 to $234 in the early hours of Wednesday following a bullish Tuesday. The price is sandwiched between the SMA 20 and the upward trending line. The 20-day Bollinger jaw has narrowed, which indicates that overall price volatility is decreasing. The Elliott Oscillator has had seven straight red sessions, showing sustained bearish sentiment. 

Support and Resistance 

ETH/USD has strong resistance levels at $237.40, SMA 20 and $248. On the downside, healthy support lies at $229.8, $220.65 and SMA 50

Key levels

ETH/USD

Overview
Today last price234.47
Today Daily Change-0.92
Today Daily Change %-0.39
Today daily open235.39
 
Trends
Daily SMA20238
Daily SMA50217.88
Daily SMA100185.87
Daily SMA200182.99
 
Levels
Previous Daily High236.01
Previous Daily Low228.95
Previous Weekly High250.41
Previous Weekly Low225.52
Previous Monthly High247.15
Previous Monthly Low176.19
Daily Fibonacci 38.2%233.31
Daily Fibonacci 61.8%231.65
Daily Pivot Point S1230.89
Daily Pivot Point S2226.39
Daily Pivot Point S3223.84
Daily Pivot Point R1237.95
Daily Pivot Point R2240.51
Daily Pivot Point R3245.01


 

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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