Rajarshi Mitra
Independent Analyst
- ETH/USD has encountered resistance at the upper curve of the 20-day Bollinger Band.
- The Moving Average Convergence/Divergence (MACD) indicates sustained bullish momentum.
ETH/USD is on course of charting a second straight bearish day after failing at the $190-level. So far today, the price of ETH/USD has dropped from $183.50 to $182.65. The hourly breakdown shows us that the price peaked above $190, where it met intraday resistance and then dropped down to $181.50. After trending horizontally for a bit, the price went up slightly to $182.65.
ETH/USD daily chart
-637080905828699619.png)
The price has found resistance at the upper 20-day Bollinger band curve and support at the 50-day Simple Moving Average (SMA 50) curve. The Moving Average Convergence/Divergence (MACD) indicates sustained bullish momentum, while the Elliott Oscillator has had six green sessions out of the last seven. The Relative Strength Index (RSI) indicator is trending around the neutral zone.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Crypto traders brace for short-term volatility with $2.4 billion options expiry on Friday
Bitcoin and Ethereum options market looks bullish on Friday, according to data from intelligence tracker Greeks.live. The firm said it has identified two Bitcoin calls that show an underlying bullish sentiment among market participants.
XRP recovers from week-long decline following Ripple’s response to SEC motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.
Lido adds 4% gains as protocol rolls out first step towards decentralization
Lido takes the first batch of simple DVT validators to live, a step taken to decentralize the protocol. Lido leveraged technology to expand the protocol to multiple node operators, inviting both solo and community stakers.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Bitcoin: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.