Ethereum Technical Analysis: ETH/USD bears take control after price fails at the $245-level

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.

Rajarshi Mitra Independent Analyst

ETH/USD daily chart

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

ETH/USD

Overview
Today last price	240.71
Today Daily Change	-2.59
Today Daily Change %	-1.06
Today daily open	243.3

Trends
Daily SMA20	218.14
Daily SMA50	204.47
Daily SMA100	184.24
Daily SMA200	178.22

Levels
Previous Daily High	246.54
Previous Daily Low	236.15
Previous Weekly High	224.81
Previous Weekly Low	196.65
Previous Monthly High	247.15
Previous Monthly Low	176.19
Daily Fibonacci 38.2%	240.12
Daily Fibonacci 61.8%	242.57
Daily Pivot Point S1	237.45
Daily Pivot Point S2	231.6
Daily Pivot Point S3	227.06
Daily Pivot Point R1	247.85
Daily Pivot Point R2	252.39
Daily Pivot Point R3	258.24

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.

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Ethereum Technical Analysis: ETH/USD bears take control after price fails at the $245-level