Ethereum technical analysis: Bulls take control of ETH/USD and try to break into the $190-zone
- The MACD indicator on the daily ETH/USD chart shows sustained bullish momentum.
- The four-hour chart is floating above the green Ichimoku cloud.
ETH/USD daily chart
ETH/USD went up from $186.45 to $187.65 so far this Tuesday. The price is trending above the 20-day Simple Moving Average (SMA 20) and SMA 50 curves, with the latter acting as immediate support. The Moving Average Convergence/Divergence (MACD) indicates sustained bullish momentum.
ETH/USD four-hour chart
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The four-hour chart is floating above the green Ichimoku cloud and the SMA 20 curve has crossed over with the SMA 50. The price is consolidating in a flag formation before a potential breakout. The Elliott Oscillator has had six straight green sessions of increasing intensity.
ETH/USD hourly chart
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The hourly chart is trending above the SMA 20, SMA 50 and SMA 200 curves. The 20-day Bollinger jaw has narrowed, indicating decreasing price volatility. The Relative Strength Index (RSI) indicator is floating right next to the overbought zone, hinting that a short-term bearish correction may be around the corner.
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.
