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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.

Ken Chigbo Independent Analyst

Spot rate: 258.76

Relative change: -3.10%

High: 270.01

Low: 254.33

ETH/USD

Overview
Today last price	259.27
Today Daily Change	-10.09
Today Daily Change %	-3.75
Today daily open	269.36

Trends
Daily SMA20	255.23
Daily SMA50	203.4
Daily SMA100	174.19
Daily SMA200	149.68

Levels
Previous Daily High	274.16
Previous Daily Low	263.85
Previous Weekly High	288.43
Previous Weekly Low	239.36
Previous Monthly High	288.43
Previous Monthly Low	159.05
Daily Fibonacci 38.2%	270.22
Daily Fibonacci 61.8%	267.79
Daily Pivot Point S1	264.09
Daily Pivot Point S2	258.82
Daily Pivot Point S3	253.79
Daily Pivot Point R1	274.39
Daily Pivot Point R2	279.43
Daily Pivot Point R3	284.7

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

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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ETH/USD

ETH/USD 15-minute chart

ETH/USD daily chart

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