Ethereum price analysis: ETH/USD bulls struggle at $228 - resistance level


  • ETH/USD is currently trading around $222 in the early hours of Saturday.
  • The SMA 50 curve has crossed over the SMA 20 curve.

ETH/USD had a bearish Friday, wherein the price fell from $226.40 to $221.60. In the early hours of Saturday, the price has gone up slightly to $22. The hourly chart shows us that there are two intra-day resistances at $226 and $224.50. After finding support at $216.35, the price was able to get up steadily to $222.

ETH/USD daily chart

fxsoriginal

The price has re-entered the 20-day Bollinger band after the bulls stepped back in to correct ETH/USD. The 50-day simple moving average (SMA 50) has crossed over the SMA 20 curve, which is a bearish signal. The relative strength index (RSI) indicator is trending around 39.50, right next to the oversold zone. The Elliot oscillator has had two bullish sessions after nine straight bearish sessions. The moving average convergence/divergence (MACD) indicator shows sustained bearish momentum.
 

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price analysis: Downside opening up towards November lows

The bears take a breather over the last hours, allowing a brief consolidation phase in Bitcoin (BTC/USD), the most favorite cryptocurrency, having reached the lowest levels in two-and-a-half weeks at 7,007 in early trading this Sunday. The coin remains vulnerable amid bearish technical set up.

More Bitcoin News

Tezos technical analysis: Bears continue to guard $ 1.70/71 area

Tezos (XTZ/USD), is in the red zone for the third straight session on Sunday, although the selling momentum has weakened over the last hours following a turnaround in the sentiment across the crypto board. 

More Tezos News

TRON price prediction: Teasing head-and-shoulders breakdown

TRON (TRX/USD) stalled its overnight decline and jumped sharply from daily lows of 0.01380 in Sunday’s early trading. Despite the recovery attempts, TRX/USD remains exposed to further downside risks.

More TRON News

Top 3 Price Prediction BTC, ETH, XRP: Sell the rallies– key theme ahead?

The world’s no. 1 digital coin, Bitcoin, is seen fading its tepid recovery from 2.5-week lows of 7,007, as we head towards the weekly closing. Top 3 widely traded coins to shed 4+% each on the week.

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast

BTC

ETH

XRP