- ETH/USD sank from $192 to $180.85 this Friday.
- The market has found support at the SMA 20 curve.
ETH/USD bulls have taken the price of the asset from $181 to $182.15 so far today. The buyers are attempting to take back control of the market following a devastatingly bearish Friday. During the last two days, ETH/USD encountered resistance at $193.40 and sank to $180.85, losing 6.45% of its valuation. As per the technical analysis, the bulls must overcome resistance at $186.15 to continue the positive momentum.
ETH/USD daily chart
The market has found support at the 20-day Simple Moving Average (SMA 20) curve and must encounter resistance at SMA 50. The 20-day Bollinger jaw has narrowed, indicating decreasing market volatility. The Moving Average Convergence/Divergence (MACD) indicator shows that the signal line has dipped and is about to cross-over with the MACD line, hinting at upcoming bearish market momentum. The Elliott Oscillator has gone up from -0.47 to -0.25.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.