Ethereum technical analysis: Will the bulls fail at the $250-level again?

ETH/USD daily chart

  • The bears have control of the ETH/USD market in the early hours of Tuesday, as the price went down from $248 to $245.40.
  • This Monday was very bullish for ETH/USD following two straight bearish days.
  • The bulls don’t seem to have enough steam to go past the $250 resistance level.
  • The market is trending below the 20-day simple moving average (SMA 20) curve and above the SMA 200 and SMA 50 curves.
  • The Elliot oscillator has had 13 straight bearish sessions.

ETH/USD 4-hour chart

  • The 4-hour ETH/USD market is trending up in a channel formation.
  • The upper and lower curves are trending parallelly, to keep the market volatility consistent.
  • The price went below the lower curve before the bulls corrected it.
  • The price is trending below the SMA 50 curve and above the SMA 200 and SMA 20 curves.
  • The SMA 200 is looking crossover the SMA 20 curve.
  • The moving average convergence/divergence (MACD) has had four straight bullish sessions. 

ETH/USD hourly chart

  • The market has had a bullish breakout from the red Ichimoku cloud this Monday.
  • Towards the end of the Monday session, the ETH/USD hourly market went up from $243.65 to 248.
  • Since then, the hourly market has had three straight bearish sessions, going down to $245.25.
  • The relative strength index (RSI) indicator touched the overbought zone and then went down to 57.80.

Key levels

ETH/USD

Overview
Today last price 245.24
Today Daily Change -2.69
Today Daily Change % -1.08
Today daily open 247.93
 
Trends
Daily SMA20 254.35
Daily SMA50 215.48
Daily SMA100 182.41
Daily SMA200 151.88
Levels
Previous Daily High 248.2
Previous Daily Low 227.58
Previous Weekly High 274.16
Previous Weekly Low 234.2
Previous Monthly High 288.43
Previous Monthly Low 159.05
Daily Fibonacci 38.2% 240.33
Daily Fibonacci 61.8% 235.46
Daily Pivot Point S1 234.27
Daily Pivot Point S2 220.62
Daily Pivot Point S3 213.65
Daily Pivot Point R1 254.9
Daily Pivot Point R2 261.86
Daily Pivot Point R3 275.52

 

 

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