Ethereum technical analysis: ETH/USD has a bearish Monday following Sunday’s bullish respite
- ETH/USD went down from $216.50 to $211.45 this Monday. Currently, it’s priced at $211.15.
- The SMA 50 curve is crossing over the SMA 20 curve in the hourly price chart.
ETH/USD daily chart
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ETH/USD went down from $216.50 to $211.45 this Monday. Currently, it’s priced at $211.15 in the early hours of Tuesday. The 20-day simple moving average (SMA 20) curve acts as immediate market resistance. The price chart is trending above the SMA 200, while it is below the SMA 50. The moving average convergence/divergence (MACD) line is about to converge with the signal line, indicating decreasing bullish momentum.
ETH/USD 4-hour chart
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The 4-hour ETH/USD price chart has had a bearish breakout from the green Ichimoku cloud. The market is trending below the SMA 200 and SMA 50 curves, while the SMA 20 curve works as immediate support. The relative strength index (RSI) indicator is trending around 45.30.
ETH/USD hourly chart
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The hourly price chart is trending below the SMA 200, SMA 50 and SMA 20 curves. The SMA 50 curve is crossing over the SMA 20 curve, which is a bearish indicator. The narrowing of the 20-day Bollinger jaw shows decreasing market volatility. The Elliot oscillator shows five straight bearish sessions of reducing intensity.
Key Levels
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.
