Ethereum price analysis: ETH/USD bulls roar back after two straight bearish days
- ETH/USD went up from $187.40 fo $192.15 this Thursday.
- The signal line has crossed over the moving average convergence/divergence (MACD) line indicating bullish momentum.
ETH/USD had a bullish day after two straight bearish days. This Thursday, the price of ETH/USD went up from $187.40 fo $192.15 this Thursday. Looking at the hourly breakdown, we can see that ETH/USD fell to $183.55, where the bulls found support and flew up to $194. Over there, the price met resistance and went down slightly to $192.15.
ETH/USD daily chart
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The daily price chart has found resistance with on the downward trending line. The price is trending below the 200-day simple moving average (SMA 200), SMA 50, and SMA 20 curves. The signal line has crossed over the moving average convergence/divergence (MACD) line indicating bullish momentum. The Elliott oscillator has had four straight bullish sessions and the relative strength index (RSI) is trending around 45.45.
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.
