Ethereum Price Analysis: ETH/USD price action remains sluggish as bulls and bears cancel each other out

ETH/USD bulls took control following two bearish days and broke above the SMA 200.
The Elliott Oscillator had a red session following five straight green sessions.

Rajarshi Mitra Independent Analyst

ETH/USD daily chart

ETH/USD went up from $170.50 to $172.75 as the price managed to break above the SMA 200 curve. The price is still hovering above the SMA 20 and SMA 50 curves. The MACD shows decreasing bullish momentum, while the Elliott Oscillator had a red session following five straight green sessions. The hourly breakdown shows us that the price managed to pick up to $174.06 within the first six hours and then dropped to $169.55 in the next six, before settling itself around $172.75.

Key levels

ETH/USD

Overview
Today last price	173.05
Today Daily Change	2.52
Today Daily Change %	1.48
Today daily open	170.53

Trends
Daily SMA20	160.6
Daily SMA50	159.38
Daily SMA100	184.5
Daily SMA200	172.24

Levels
Previous Daily High	186.67
Previous Daily Low	166.66
Previous Weekly High	175.11
Previous Weekly Low	148.3
Previous Monthly High	252.76
Previous Monthly Low	89.65
Daily Fibonacci 38.2%	174.31
Daily Fibonacci 61.8%	179.03
Daily Pivot Point S1	162.57
Daily Pivot Point S2	154.61
Daily Pivot Point S3	142.56
Daily Pivot Point R1	182.58
Daily Pivot Point R2	194.64
Daily Pivot Point R3	202.6

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 price action remains sluggish as bulls and bears cancel each other out