Ethereum technical analysis: ETH/USD trends in a downward channel formation

  • The daily ETH/USD chart is trending above the SMA 20 and SMA 50 curves.
  • The MACD indicator shows four straight bullish sessions of increasing intensity.

ETH/USD daily chart


The bears remained in control for the second day in a row. ETH/USD is trending in a downward channel formation as the price went down from $191.85 to $190 so far today. The price is floating above the 20-day and 50-day Simple Moving Average (SMA 20 and SMA 50) curves. The Moving Average Convergence/Divergence (MACD) indicator shows four straight bullish sessions of increasing intensity.

ETH/USD four-hour chart


The four-hour ETH/USD chart has broken below the support provided by the upward trending line and is floating above the green Ichimoku cloud. The SMA 20 has crossed over the SMA 200 curve, which is a bullish sign. The Relative Strength Index (RSI) indicator was looking to enter the overbought zone, before dropping to 62.50.

ETH/USD hourly chart


The hourly chart has dropped below the upward trending line as well. The latest session has taken the price below the SMA 20 curve and has found support at the SMA 50. Along with this, the 20-day Bollinger jaw has narrowed, indicating low market volatility, while the Elliott Oscillator has had two straight bearish sessions.

Key Levels


Today last price 190.42
Today Daily Change -1.40
Today Daily Change % -0.73
Today daily open 191.82
Daily SMA20 183.82
Daily SMA50 184.19
Daily SMA100 208.86
Daily SMA200 210.66
Previous Daily High 194.87
Previous Daily Low 187.71
Previous Weekly High 186.07
Previous Weekly Low 164.46
Previous Monthly High 224.69
Previous Monthly Low 152.51
Daily Fibonacci 38.2% 190.45
Daily Fibonacci 61.8% 192.13
Daily Pivot Point S1 188.06
Daily Pivot Point S2 184.31
Daily Pivot Point S3 180.91
Daily Pivot Point R1 195.22
Daily Pivot Point R2 198.62
Daily Pivot Point R3 202.38



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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Breaking: Bitcoin breaks new yearly highs; the road to $15,000 is clear

Bitcoin (BTC) broke above the local resistance created by $13,250 and hit a new high of 2020 at $13,490. The pioneer digital asset is poised for further growth as the upside momentum gains traction amid little resistance from sellers.

More Bitcoin News

XRP looks poised for a breakout to $0.30

XRP is currently trading at $0.252 after successfully defending a critical support level at $0.247. In the past two weeks, the digital asset has been rejected from the upper boundary of the daily ascending triangle around ten times.

More Ripple News

Breaking: JPMorgan's digital currency, JPM Coin, is ready for commercial use

JPMorgan Chase announced that its digital currency, JPM Coin, had been used for commercial purposes this week. A large technology client used it to send cross-border payments.

More Cryptocurrencies News

The network’s utility increases, while TRX prepares for a massive price movement

TRON's weekly report is out and talks about the finalization of the TRC-20 shielded contract on the mainnet and a security test for the smart contract on TVM instructions to stake and unstake.

More Tron News


Bitcoin Weekly Forecast: Bitcoin goes up as some of the world's largest currencies go down

While investors are waiting for BTC to retest all-time highs and shoot to the moon, it is already there. In some countries, the pioneer digital asset surpassed the peak of 2017 and hit new historic highs in local currencies.

Read the weekly forecast