Ethereum price analysis: ETH/USD bulls eke out the bears this Thursday, can they continue their momentum?
- ETH/USD went up to $188.25 this Thursday after reaching a low of $173.65.
- The relative strength index (RSI) indicator is trending right next to the oversold zone.
ETH/USD bulls managed to eke out an advantage this Thursday after three straight bearish days. This Thursday, the price went up to $188.25 after reaching a low of $173.65. Currently, ETH/USD is trading for $187.60. The hourly breakdown shows that the price fell from $189 to $175.45, where it found support and went up to $188.30. After that, ETH/USD corrected to $187.60.
ETH/USD daily chart
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The ETH/USD market was trending in the green Ichimoku cloud before it dropped down, having found resistance on the downward trending line. The market is also trending below the 20-day simple moving average (SMA 20), SMA 50 and SMA 200 curves. The Elliot oscillator shows five straight bearish sessions and the moving average convergence/divergence shows increasing bearish momentum. The relative strength index (RSI) indicator is trending right next to the oversold zone.
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.
