Ethereum technical analysis: ETH/USD keeps falling after failing at the $155-level

By December 2, 2019 Ethereum
Click here to view original web page at www.fxstreet.com
  • MACD and signal lines start to diverge following a period of convergence, indicating increasing bearish momentum.
  • The 4-hour ETH/USD chart has found immediate resistance at the SMA 50 curve.

ETH/USD daily chart

fxsoriginal

ETH/USD managed to chart a third straight bearish day after failing at the $155-level. This Monday, Ethereum has dropped from $151.30 to $149. The price is floating below the 200-day Simple Moving Average (SMA 200), SMA 50 and SMA 20 curves. The Moving Average Convergence/Divergence (MACD) indicator shows us that the MACD and signal lines start to diverge following a period of convergence, indicating increasing bearish momentum.

ETH/USD 4-hour chart

fxsoriginal

The 20-day Bollinger Band of the 4-hour ETH/USD chart has narrowed, indicating decreasing market volatility. The SMA 20 and SMA 50 curves act as immediate market resistance. The Relative Strength Index (RSI) indicator is trending around the neutral zone.

ETH/USD hourly chart

fxsoriginal

The hourly chart is trending in an upward channel formation, indicating that the bulls are attempted to fight back. The buyers managed to break past the resistance provided by the SMA 20 curve. The Elliott Oscillator shows two green sessions following seven straight red sessions.

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 4-hour ETH/USD chart has found immediate resistance at the SMA 50 […]

Leave a Reply