The daily ETH/USD chart has found support on the upward trending line. Initial resistance level lies at $234.50. The 20-day simple moving average (SMA 20) and SMA 200 curves are trending below the daily chart, while the SMA 50 is trending above. The Elliot oscillator shows 14-straight bullish sessions.
The 4-hour ETH/USD was trending in the red Ichimoku cloud before trending upwards. The price went up to $233.85, where it met resistance, consolidated for a bit, and then dropped down to $228.25. The relative strength index (RSI) indicator was trending in the overbought zone before falling to 60.95.
The market met resistance at $233.20 before dropping down to $228.25. The hourly price chart is flirting with the lower curve of the Bollinger band. The 20-day Bollinger jaw is narrowing, indicating lower market volatility. The moving average convergence/divergence (MACD) indicator shows increasing bearish momentum.
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Bears have taken control of the hourly ETH/USD market.
ETH/USD daily chart The daily ETH/USD […]
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