Ethereum technical analysis: ETH/USD consolidates in a flag formation as bulls and bears engage in an unenthusiastic back-and-forth


  • ETH/USD went down from $184.50 to $182.10 this Monday.
  • The SMA 50 curve has crossed over the SMA 20 curve in the hourly chart, which is a bearish sign.

ETH/USD daily chart

fxsoriginal

The daily ETH/USD is consolidating in a flag formation. This Monday price had gone up from $184.50 to $182.10. This Tuesday, the bears had taken control of the market and brought the price down to $182.75. The 50-day Simple Moving Average (SMA 50) curve acts as immediate market support.

ETH/USD four-hour chart

fxsoriginal

The four-hour chart has spiked above the green Ichimoku cloud and is currently trending in a downward channel formation. The bulls must overcome resistance at the SMA 20 curve to continue the upward momentum. The Moving Average Convergence/Divergence (MACD) indicates bearish market momentum. The Bollinger width is trending at around 0.075, which shows decreasing market volatility.

ETH/USD hourly chart

fxsoriginal

The SMA 50 has crossed over the SMA 20 curve, which is a bearish sign. Both of these curves are also acting as immediate market resistance. The 20-day Bollinger Band has gradually constricted, showing decreasing market volatility. The Relative Strength Index (RSI) indicator is trending around the neutral zone.

Key Levels

ETH/USD

Overview
Today last price 183.12
Today Daily Change 1.03
Today Daily Change % 0.57
Today daily open 182.09
 
Trends
Daily SMA20 178.02
Daily SMA50 182.96
Daily SMA100 192.4
Daily SMA200 213.02
 
Levels
Previous Daily High 190.19
Previous Daily Low 181.08
Previous Weekly High 187.83
Previous Weekly Low 153.28
Previous Monthly High 224.69
Previous Monthly Low 152.51
Daily Fibonacci 38.2% 184.56
Daily Fibonacci 61.8% 186.71
Daily Pivot Point S1 178.72
Daily Pivot Point S2 175.35
Daily Pivot Point S3 169.61
Daily Pivot Point R1 187.83
Daily Pivot Point R2 193.56
Daily Pivot Point R3 196.94

 

 

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