Ethereum price analysis: ETH/USD struggles to break past resistance at $181.50
- ETH/USD is currently priced at $180 in the early hours of Thursday.
- The Moving Average Convergence/Divergence (MACD) indicator shows sustained bearish momentum.
ETH/USD is currently trending in a flag formation and has struggled to break past resistance at $181.50. At present, ETH/USD is priced at $180. The hourly breakdown shows us that the price of ETH/USD fell to $174.60, where it found support and bounced up to $179.95. Since then, ETH/USD has pretty much trended horizontally. The bulls will ideally want to garner enough momentum to break past the resistance barriers at $181.50 and $186.
ETH/USD daily chart
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The 20-day Simple Moving Average (SMA 20) and SMA 50 curves act as immediate resistance. The widening of the 20-day Bollinger jaw indicates increasing market volatility. The Moving Average Convergence/Divergence (MACD) indicator shows sustained bearish momentum, while the Elliott Oscillator shows four consecutive bullish sessions.
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.
