Ethereum technical analysis: Bears step in to negate bullish movement

By July 17, 2019 Ethereum
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  • ETH/USD is currently trading for $210.15.
  • Relative strength index (RSI) is creeping right next to the oversold zone.

ETH/USD daily chart

ETH/USD is currently trading for $210.15 in the early hours of Thursday. This Wednesday was bullish for ETH/USD as its price went up from $200 to $211.The price is trending above the 200-day simple moving average (SMA 200) while below the SMA 50 and SMA 20 curves. The SMA 50 is looking to cross over the SMA 20, which is a bearish sign. The relative strength index (RSI) is creeping right next to the oversold zone.

ETH/USD 4-hour chart

The 4-hour chart shows a spike in the ETH/USD value where it went up from $196.15 to $213. Since then, the bears took over and the price is trending in a downward channel. The price chart is trending below the green Ichimoku cloud. The moving average convergence/divergence (MACD) indicator shows four straight bullish sessions of increasing intensity.

ETH/USD hourly chart

The hourly ETH/USD price is trending in the upper half of the 20-day Bollinger band having found support on the upward trending line and the SMA 20 curve. The market sees immediate resistance at the SMA 50 curve. The Elliot oscillator shows four straight bearish sessions.

Key Levels

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Relative strength index (RSI) is creeping right next to the oversold zone.

ETH/USD daily chart ETH/USD is currently trading for $210.15 […]

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