Ethereum price analysis: ETH/USD bulls lack the momentum needed to break past $150-barrier
- The 20-day Bollinger band is narrowing, indicating decreasing price volatility.
- The Relative Strength Index (RSI) indicator is trending around 39.
ETH/USD daily chart
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ETH/USD bulls managed to outlast the bears this Friday, going up from $148.35 to $149. So far, the price has managed to go up slightly to $149.15 and is floating below the 200-day Simple Moving Average (SMA 200), SMA 50 and SMA 20 curves. The SMA 20 curve has dipped below and is acting like immediate market resistance. The 20-day Bollinger band has narrowed, indicating decreasing price volatility. The Moving Average Convergence/Divergence (MACD) indicator shows slightly increasing bullish momentum, while the Elliott Oscillator has had three straight green sessions. The Relative Strength Index (RSI) indicator is trending around 39, 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.
