Ethereum technical analysis: ETH/USD finds support at $166.60 after five straight bearish days


  • ETH/USD has gone up from $166.60 to $172.60 so far this Wednesday.
  • The Elliott Oscillator has had three straight bearish sessions.

ETH/USD daily chart

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ETH/USD found has gone up from $166.60 to $172.60 so far today. This Tuesday was heavily bearish as the price plummetted from $201.45 to $166.60. The price is trending below the 200-day Simple Moving Average (SMA 200), SMA 50 and SMA 20 curves. The SMA 20 has crossed over the SMA 50, which is a bullish sign. The Elliott Oscillator has had three straight bearish sessions.

ETH/USD four-hour chart

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The ETH/USD four-hour chart has dropped below the red Ichimoku cloud. The four-hour chart has fallen from $192.50 to $168.20 in just four hours. The bulls have since stepped back in to recover ETH/USD. The price chart is trending below the SMA 200, SMA 50 and SMA 20 curves. The Moving Average Convergence/Divergence (MACD) indicator shows 28 straight bearish sessions of increasing intensity.

ETH/USD hourly chart

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The hourly ETH/USD dropped from $189.40 to $165.25 within an hour and fell below the 20-day Bollinger Band in the process. Since then, the price has trended horizontally to bring it back into the Bollinger Band. The 20-day Bollinger jaw has widened, indicating increasing market volatility The Relative Strength Index (RSI) indicator has crept out of the oversold zone.

Key Levels

ETH/USD

Overview
Today last price 173.24
Today Daily Change 6.82
Today Daily Change % 4.10
Today daily open 166.42
 
Trends
Daily SMA20 191.64
Daily SMA50 193.17
Daily SMA100 226.54
Daily SMA200 207.63
 
Levels
Previous Daily High 202.71
Previous Daily Low 155.63
Previous Weekly High 224.69
Previous Weekly Low 186.44
Previous Monthly High 239.56
Previous Monthly Low 163.8
Daily Fibonacci 38.2% 173.61
Daily Fibonacci 61.8% 184.72
Daily Pivot Point S1 147.13
Daily Pivot Point S2 127.83
Daily Pivot Point S3 100.04
Daily Pivot Point R1 194.21
Daily Pivot Point R2 222
Daily Pivot Point R3 241.29

 


 

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