Rajarshi Mitra
Independent Analyst
- ETH/USD bears remained in control for the second straight day.
- The MACD shows decreasing bullish market momentum.
- William’s %R has dropped below the overbought zone.
ETH/USD daily chart
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ETH/USD bears remained in control as the price fell from $243.25 to $240.60. The price is currently consolidating in a pennant formation. The MACD shows decreasing bullish momentum. William’s %R dropped below the overbought zone following bearish price action.
Support and Resistance
ETH/USD faces two strong resistance levels on the upside at $244.25 and $248.68. On the downside, the price has four healthy support levels at $233, SMA 20, $215.50 and SMA 50.
Key levels
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