Ethereum price analysis: ETH/USD keeps consolidating in a flag formation

  • ETH/USD is currently priced at $180.40 in the early hours of Friday.
  • The market has found support at the SMA 20 curve.

ETH/USD has had a bearish start to Friday as the price fell from $181.50 to $180.40. The price is trending horizontally and consolidating in a flag formation. The price is sandwiched between the resistance provided by the downward trending line and the support provided by the 20-day simple moving average (SMA 20) curve. The hourly breakdown of Thursday shows us that the price fell to $177 and then flew up to $181.75. The bears then stepped in and took the price down to $180.75 to end the day. Since then, the price has fallen further to $180.40.

ETH/USD daily chart


The price is trending below the 200-day simple moving average (SMA 200) and SMA 50 curves. The 20-day Bollinger jaw is decreasing, which indicates lower market volatility. The moving average convergence/divergence (MACD) shows sustained bullish momentum, while the Elliot oscillator shows 12 straight bullish sessions.

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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC bulls may hit a brick wall on approach to $9,800

Bitcoin (BTC) extended the recovery to trade at $9,750 at the time of writing. The first digital asset bottomed at $9,300 on February 19 amid massive sell-off and managed to regain some ground since that time. 

More Bitcoin News

Ripple Price Weekly Forecast: XRP/USD road to $0.35 mapped

As the week grinds toa halt, cryptocurrencies are rolling in a positive direction. The positive resonation comes after a couple of days that saw bulls paralyzed in the cryptocurrency market.

More Ripple News

Cardano launched hardfork OBFT; ADA/USD extends the recovery

Cardano (ADA), now the 11th largest digital asset with the current market value of $1.5 billion, has gained 2.7% in recent 24 hours to trade at $0.0590 at the time of writing.

More Cardano News

BCH/USD sprints to $380 amid development tax disagreements

Bitcoin Cash explored the region at $350 as I discussed in the previous article. However, the bulls quickly entered the market ready to buy low and push the price upwards. BCH/USD is already in the green ...

More Bitcoin Cash News


Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast