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Ethereum technical analysis: ETH/USD downtrend targets $150

  • Ethereum resumes the downtrend amidst broad-based declines in the cryptocurrency market.
  • Ethereum's short-term technical picture remains positive despite the correction on Thursday.
Ethereum technical analysis: ETH/USD downtrend targets $150
John IsigeJohn IsigeFXStreet

Spot rate: $173.82

Relative change: -0.8456

Percentage change: -0.47%

Trend: Bullish

Volatility: Shrinking

ETH/USD daily chart

Ethereum corrects under the 50-day Simple Moving Average (SMA) as it approaches the critical support at $170.

The Relative Strength Index (RSI) downward slope signifies the strong bearish grip on the price.

ETH/USD 240’ chart

For the first time in a week, Ethereum is grinding closer to the support at $170.

The Moving Average Convergence Divergence (MACD) sinks deeper in the negative region emphasizing the growing bearish momentum.

ETH/USD 60’ chart

From a short-term perspective, Ethereum has the potential to force a reversal towards $180.

The MACD shows Ethereum having a short-term bullish bias but the bulls must make sure to defend the trendline support.

ETH/USD

Overview
Today last price173.82
Today Daily Change-0.85
Today Daily Change %-0.49
Today daily open174.67
 
Trends
Daily SMA20178.1
Daily SMA50183.14
Daily SMA100203.25
Daily SMA200211.75
 
Levels
Previous Daily High181.35
Previous Daily Low171.94
Previous Weekly High197.8
Previous Weekly Low168.1
Previous Monthly High224.69
Previous Monthly Low152.51
Daily Fibonacci 38.2%175.53
Daily Fibonacci 61.8%177.76
Daily Pivot Point S1170.62
Daily Pivot Point S2166.57
Daily Pivot Point S3161.2
Daily Pivot Point R1180.04
Daily Pivot Point R2185.4
Daily Pivot Point R3189.45

Author

John Isige

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

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