Ethereum technical analysis: Daily ETH/USD keeps trudging along sluggishly in an $11-range
- ETH/USD went up from $187.15 to $188.10 so far this Wednesday.
- The MACD indicator in the daily chart shows decreasing bullish market momentum.
ETH/USD daily chart
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ETH/USD is moving along sluggishly in a narrow $11-range between $180.15 and $191.30. This Wednesday, ETH/USD went up from $187.15 to $188.10, which has been wholly negated so far this Thursday. The daily chart is floating above the 20-day Simple Moving Average (SMA 20) and SMA 50. The Moving Average Convergence/Divergence (MACD) indicates decreasing bullish momentum.
ETH/USD 4-hour chart
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The 4-hour ETH/USD price has charted an evening star pattern and is floating above the SMA 50 and SMA 20 curves. The Elliott Oscillator shows six straight green sessions of increasing intensity.
ETH/USD hourly chart
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The hourly ETH/USD has broken below the upward channel formation and the red Ichimoku cable. The SMA 20 curve acts as immediate market support. The Relative Strenght Index (RSI) indicator is trending around 56.25.
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.
