Ethereum technical analysis: ETH/USD consolidates in a flag formation, bulls and bears shut each other out

By November 1, 2019Ethereum
Click here to view original web page at www.fxstreet.com
  • Daily ETH/USD chart shows decreasing bullish momentum.
  • The four-hour chart has crept above SMA 20 and SMA 50 curves.

ETH/USD daily chart

fxsoriginal

ETH/USD daily chart has been consolidating in a flag formation over the last three days and is currently trading for $183.85. The market has found immediate support at the SMA 50 curve, while the Moving Average Convergence/Divergence (MACD) indicates decreasing bullish momentum.

ETH/USD four-hour chart

fxsoriginal

The four-hour ETH/USD chart has had three bullish sessions in a row wherein the price went up from $180 to $183.85. The last three sessions also took the price above the 20-day Simple Moving Average (SMA 20) and SMA 50 curves. The four-hour price is floating above the green Ichimoku cloud, while the Elliott Oscillator has had two green sessions in a row.

ETH/USD hourly chart

fxsoriginal

The hourly chart has found support at the upward trending line. The SMA 20 curve has crossed over the SMA 50 curve, which is a bullish sign. The Relative Strength Index (RSI) indicator is trending around 56.25. The 20-day Bollinger Band has widened, indicating increasing price volatility.

Key Levels

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.

Cryptos feed

The four-hour chart has crept above SMA 20 and SMA 50 curves.

ETH/USD daily chart ETH/USD daily chart has been […]

Leave a Reply