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Ethereum technical analysis: ETH/USD bearish technical structure eyed

  • Ethereum price in the second half of Monday is nursing some steep losses of over 4%. 
  • ETH/USD is protected by a decent near-term buying area around $250 price territory, a breach could expose $200 to the downside. 
  • To the upside, supply can be observed around $270, where bulls appear to be capped. 
Ethereum technical analysis: ETH/USD bearish technical structure eyed
Ken ChigboKen ChigboIndependent Analyst

Spot rate:               258.76

Relative change:   -3.10%

High:                      270.01

Low:                       254.33

ETH/USD

Overview
Today last price259.27
Today Daily Change-10.09
Today Daily Change %-3.75
Today daily open269.36
 
Trends
Daily SMA20255.23
Daily SMA50203.4
Daily SMA100174.19
Daily SMA200149.68
Levels
Previous Daily High274.16
Previous Daily Low263.85
Previous Weekly High288.43
Previous Weekly Low239.36
Previous Monthly High288.43
Previous Monthly Low159.05
Daily Fibonacci 38.2%270.22
Daily Fibonacci 61.8%267.79
Daily Pivot Point S1264.09
Daily Pivot Point S2258.82
Daily Pivot Point S3253.79
Daily Pivot Point R1274.39
Daily Pivot Point R2279.43
Daily Pivot Point R3284.7

ETH/USD 15-minute chart

  • A descending trend line is capping price action, forcing narrowing trading. Near-term support is eyed at $250. 

ETH/USD daily chart

  • Price action via the daily chart view is moving within a rising wedge structure, subject to a potential breakout south. 

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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