Rajarshi Mitra
Independent Analyst
ETH/USD daily chart
-636954688808681605.png)
- ETH/USD failed at the $250-level and is currently priced at $247.65.
- The five latest sessions have all been trending below the 20-day simple moving average (SMA 20) curve.
- The market has found support on the upward trending line.
- The Elliot wave oscillator has had nine bearish sessions in a row.
- The moving average convergence/divergence (MACD) indicator shows increasing bearish momentum.
ETH/USD 4-hour chart
-636954689135252770.png)
- The 4-hour market is trending below the green Ichimoku cloud.
- The upcoming market sentiment, according to the Ichimoku indicator, is bearish.
- The $250 level has provided strong resistance to the 4-hour market.
- The relative strength index (RSI) is trending at 47.6.
- The MACD indicator shows that the signal line was about to converge with the MACD line and then it diverged away. This means that bullish momentum was decreasing before it suddenly went up again.
- The Elliot oscillator has had 13 bullish sessions out of the last 14.
ETH/USD hourly chart
-636954689583856895.png)
- The hourly ETH/USD price had two instances where it went outside its Bollinger band (once below and once above). In both cases, the price corrected almost immediately.
- The SMA 50 has crossed over the SMA 20 curve, which is a bearish sign.
- The 4-hour market is also trending below the SMA 200 curve.
- The Bollinger band is widening, showing that the market volatility is increasing.
- The RSI indicator is trending around 60.30.
- The Elliot oscillator has had five straight bullish sessions.
Key levels
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Vitalik Buterin slams controversial gambling project ZKasino following scam allegations
Ethereum founder Vitalik Buterin took to Warpcaster, a new type of social network, to condemn ZKasino, a decentralized gambling platform based on Layer 2 Ethereum protocol zkSync.
Starknet jumps 2% after notice inviting specific groups to claim STRK airdrop
Starknet Foundation addressed the groups within the STRK community that were unable to receive the token’s airdrop during the first round. The Layer 2 chain organized an airdrop event in February.
XRP price capped at $0.55 despite retail holdings nearing all-time highs
Ripple price (XRP) failed to break resistance at $0.55 early Wednesday as traders continue to digest Ripple’s recent response to the Securities and Exchange Commission’s (SEC) allegations of illegally selling XRP as a security.
Binance founder Changpeng Zhao could face three-year jail time
US prosecutors are requesting Binance founder and former CEO Changpeng Zhao (CZ) to serve a three-year jail time, according to a Reuters report published Wednesday.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?