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Ethereum Price Analysis: ETH/USD experiences bearish correction following a heavily bullish Wednesday

  • ETH/USD had a bearish start to the day and faces resistance levels at $214.95 and $224.25. 
  • The Elliott Oscillator and MACD shows sustained bearish sentiment.
Ethereum Price Analysis: ETH/USD experiences bearish correction following a heavily bullish Wednesday
Rajarshi MitraRajarshi MitraIndependent Analyst

ETH/USD daily chart

ETH/USD daily chart

ETH/USD had a bearish start to Thursday as it fell from $208.37 to $207.50. The MACD shows sustained bearish momentum, while the Elliott Oscillator has had eight consecutive red sessions. Finally, the RSI is trending horizontally around the neutral zone.

ETH/USD faces two strong resistance levels at $214.95 and $224.25. On the downside, there are four healthy support levels at SMA 20, $202.50, SMA 50 and $188.70.

Key levels

ETH/USD

Overview
Today last price207.06
Today Daily Change-1.31
Today Daily Change %-0.63
Today daily open208.37
 
Trends
Daily SMA20202.77
Daily SMA50192.4
Daily SMA100186.49
Daily SMA200176.17
 
Levels
Previous Daily High208.37
Previous Daily Low200.89
Previous Weekly High216.98
Previous Weekly Low191.49
Previous Monthly High227.37
Previous Monthly Low128.95
Daily Fibonacci 38.2%205.51
Daily Fibonacci 61.8%203.75
Daily Pivot Point S1203.38
Daily Pivot Point S2198.4
Daily Pivot Point S3195.91
Daily Pivot Point R1210.86
Daily Pivot Point R2213.35
Daily Pivot Point R3218.33


 

Author

Rajarshi Mitra

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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