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

fxsoriginal

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.
 

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