Ethereum Technical Analysis: ETH/USD bulls falter at $200-level

ETH/USD Daily Chart

• ETH/USD is currently trading at $197.80 this Tuesday.
• This Monday, the price went up to $207.20, before the bears re-entered the market and brought it down to $196 at EOD.
• The price is trading above the SMA 200, SMA 50, and SMA 20 curves.
• The Relative Strength Index (RSI) indicator is trending in the overbought zone.

ETH/USD 4-Hour Chart

• The 4-hour ETH/USD market found support at $195.25.
• The signal line is converging with the MACD line indicating decreasing bullish momentum.
• The Ichimoku Indicator shows upcoming bearish sentiment.
• On the downside, support levels lie at $194.

ETH/USD Hourly Chart

• The 20-day Bollinger band in the hourly ETH/USD chart is narrowing, which shows decreasing market volatility.
• The second last session was extremely bearish and brought the price down to the 20-day simple moving average (SMA 20).
• The hourly ETH/USD found support on the SMA 20 curve and bounced back up.
• The second last session brought the price below the upward trending line.
• The Elliot Oscillator shows five consecutive bearish sessions.

Key Levels