Ethereum technical analysis: ETH/USD jeopardizes key support after hitting a dead-end at $195

  • Ethereum’s recovery momentum stalled at $195 opening the Pandora box.
  • The zone between $150 and $160 remains to be the major support for Ether.

Ethereum is back in the $180’s range following the bulls’ inadequacy to clear the resistance at $196. The tentative support at $190 did not match up to the selling pressure whereby the declines touched $186.75 (intraday low). Besides, the 100-day Simple Moving Average did little to halt the drop.

The short-term trendline continues to offer short-term support but extended declines could find refuge at $185 and $180 respectively.

Technical signals by the Relative Strength Index suggests that the bears will remain in control. If the indicator dives towards the oversold levels under 30, Ethereum would breakdown to the primary support at $150 - $160. For now, a sideways trend between $180 and $190 is a welcomed move which will allow the buyers to forge another attack on $200 in the coming sessions.

ETH/USD daily chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD weekend action brushes shoulders with $7,600

Cryptocurrencies stagnated within familiar levels over the weekend. Bitcoin action impressively jumped above the resistance levels at $7,400 and $7,500. The upward leg jumped above $7,600 before forming a high at $7,638.

More Bitcoin News

Ripple Price Analysis: XRP/USD gazes on a risky triangle breakdown

Ripple is ranged confined between $0.21 and $0.2336. The recovery from the low in November around $0.22 lost steam short of $0.24. On the flipside, $0.21 is standing out a formidable support area.

More Ripple News

LTC/USD price halved afte halving, hash rate dropped by 70%

Litecoin (LTC), the sixth-largest digital asset with the current market capitalization of $2.9 billion, has been one os the worst-performing coins of the month out of top-20.

More Litecoin News

Tezos towers the weekend session testing $1.70 crucial hurdle

Tezos was arguably the best performing crypto in the weekend session. After closing the session on Friday at $1.38, the bullish action majestically surged over 30% to brush shoulders with $1.61. Both the trading volume and the market cap corrected higher, where XTZ crossed the $1 billion hurdle. 

More Tezos news


Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast