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Ethereum technical analysis: ETH/USD falls by >5% over the last four days

ETH/USD bears have remained in control for four consecutive days.
ETH/USD has dropped from $243.30 to $230 in this period.
The Elliott Oscillator has had two straight red sessions.

Rajarshi Mitra Independent Analyst

ETH/USD daily chart

ETH/USD fell from $232.41 to $229.75 this Friday as the bears stayed in control for the fourth consecutive day. In this period, the price has dropped from $243.30 to $230, falling by over 5% in its valuation. The Elliott Oscillator has had two straight red sessions, while William’s %R is trending right next to the oversold zone following Ethereum’s bearish price action.

Support and Resistance

ETH/USD faces strong resistance upfront at $235.78 (SMA 20), $238 and $248.35. On the downside, there are healthy support levels at $227.40, $223.45 (SMA 50), $221.50.

Key levels

ETH/USD

Overview
Today last price	230.28
Today Daily Change	-2.14
Today Daily Change %	-0.92
Today daily open	232.42

Trends
Daily SMA20	236.67
Daily SMA50	222.63
Daily SMA100	193.74
Daily SMA200	186.78

Levels
Previous Daily High	235.13
Previous Daily Low	227.27
Previous Weekly High	238.59
Previous Weekly Low	218.14
Previous Monthly High	247.15
Previous Monthly Low	176.19
Daily Fibonacci 38.2%	230.27
Daily Fibonacci 61.8%	232.13
Daily Pivot Point S1	228.08
Daily Pivot Point S2	223.74
Daily Pivot Point S3	220.22
Daily Pivot Point R1	235.94
Daily Pivot Point R2	239.47
Daily Pivot Point R3	243.81

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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