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

fxsoriginal

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

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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

fxsoriginal

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

ETH/USD

Overview
Today last price 190.42
Today Daily Change -1.40
Today Daily Change % -0.73
Today daily open 191.82
 
Trends
Daily SMA20 183.82
Daily SMA50 184.19
Daily SMA100 208.86
Daily SMA200 210.66
 
Levels
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

 


 

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