Ethereum price analysis: ETH/USD retreats from the $190-zone, struggling to stay above $180


  • 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

fxsoriginal

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.
 

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