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Ethereum Price Analysis: ETH/USD tries to consolidate above $230 following Wednesday’s bloodbath

ETH/USD bears have managed to stay in control for the third straight day.
William’s %R has dropped from the overbought zone onto the neutral zone.

Rajarshi Mitra Independent Analyst

ETH/USD daily chart

ETH/USD bears have managed to stay in control for the third straight day. The price has dropped slightly from $234.53 to $234.47, as ETH/USD continues consolidation above the $230-level. William’s %R has fallen from the edge of the overbought zone to the neutral territory, where it is currently trending horizontally. Finally, the Elliott Oscillator shows four straight green sessions, despite recent bearish price actions.

Support and Resistance

ETH/USD has two strong resistance levels at $242.80 and $248.15. On the downside, we have healthy resistance at $237.70 (SMA 20), $231, $227.80 and $222.25 (SMA 50).

Key levels

ETH/USD

Overview
Today last price	234.29
Today Daily Change	-0.25
Today Daily Change %	-0.11
Today daily open	234.54

Trends
Daily SMA20	237.05
Daily SMA50	221.97
Daily SMA100	192.58
Daily SMA200	186.36

Levels
Previous Daily High	249.27
Previous Daily Low	230.78
Previous Weekly High	238.59
Previous Weekly Low	218.14
Previous Monthly High	247.15
Previous Monthly Low	176.19
Daily Fibonacci 38.2%	237.84
Daily Fibonacci 61.8%	242.2
Daily Pivot Point S1	227.13
Daily Pivot Point S2	219.71
Daily Pivot Point S3	208.64
Daily Pivot Point R1	245.61
Daily Pivot Point R2	256.68
Daily Pivot Point R3	264.1

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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