Rajarshi Mitra
Independent Analyst
- 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
-637091251292410983.png)
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
-637091250947716356.png)
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
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