Ethereum Price Analysis: ETH/USD bulls try to stage comeback but face resistance at SMA 20

ETH/USD bulls stepped back in after the price failed at the $250 level this Thursday.
The MACD shows increasing bearish market momentum.

Rajarshi Mitra Independent Analyst

ETH/USD daily price chart

ETH/USD has gone through a bullish correction in the early hours of Friday, as the price went up from $230.15 to $232. This Thursday, the price got rejected at the $248.30 resistance level. The MACD shows increasing bearish market momentum, while the Elliott Oscillator has had two consecutive red sessions.

Support and Resistance

The price faces immediate resistance at the SMA 20 curve. Above that, ETH/USD bulls face two more robust resistance levels at $240.30 and $248.30. On the downside, ETH/USD has three healthy support levels at $218.36, SMA 50 and $208

Key levels

ETH/USD

Overview
Today last price	232.61
Today Daily Change	2.42
Today Daily Change %	1.05
Today daily open	230.19

Trends
Daily SMA20	230.3
Daily SMA50	213.65
Daily SMA100	185.5
Daily SMA200	180.81

Levels
Previous Daily High	250.38
Previous Daily Low	225.52
Previous Weekly High	253.48
Previous Weekly Low	224.48
Previous Monthly High	247.15
Previous Monthly Low	176.19
Daily Fibonacci 38.2%	235.02
Daily Fibonacci 61.8%	240.88
Daily Pivot Point S1	220.34
Daily Pivot Point S2	210.5
Daily Pivot Point S3	195.48
Daily Pivot Point R1	245.21
Daily Pivot Point R2	260.23
Daily Pivot Point R3	270.07

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.

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Ethereum Price Analysis: ETH/USD bulls try to stage comeback but face resistance at SMA 20