Ethereum technical analysis: Bulls attempt comeback after failing at $190-level
- ETH/USD had a hugely bearish Monday, where it fell from $189.30 to $184.89.
- Both SMA 20 and SMA 50 curves are acting as immediate market support.
ETH/USD daily chart
ETH/USD is currently priced at $185.80 following a bearish Monday wherein the price fell from $189.30 to $184.89. The price has found support at the 20-day Simple Moving Average (SMA 20) and SMA 50 curves. The SMA 20 has crossed over the SMA 50, which is a bullish sign. The Elliott Oscillator has had a green session, following three straight red sessions.
ETH/USD 4-hour chart
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The 4-hour ETH/USD is sandwiched between the red Ichimoku cloud on the downside and the SMA 20 and SMA 50 curves on the upside. The Moving Average Convergence/Divergence (MACD) indicates bearish market momentum.
ETH/USD hourly chart
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The hourly ETH/USD is floating below the 20-day, 50-day and 200-day Simple Moving Average (SMA 20, SMA 50 and SMA 200) curves. SMA 20 is acting as immediate market resistance. The 20-day Bollinger jaw has narrowed, which shows decreasing price volatility. The Relative Strength Index (RSI) indicator is trending around 45.45.
Key Levels
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.
