Home Ethereum Technical Analysis: Bear flag in play after price bounces off 55 EMA

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Ethereum Technical Analysis: Bear flag in play after price bounces off 55 EMA

FX Street

Published date: 9 Jan. 2020 | 18:57

Ethereum trades 3.25% lower after sentiment remains poor on Thursday.
The price has bounced off the 55 daily EMA to move lower.

ETH/USD Daily Chart

Ethereum has taken a dive on Thursday falling 3.25%.

The ETH/USD has bounced off the 55 EMA and sold off.

Now there is a bear flag pattern in play and if it breaks the price could target the lows of around 116.25.

The RSI has also set up for a bearish pattern with a bearish failure swing.

The support could come from the lows but if 150 breaks to the upside it would be an important bullish sign.

Additional Levels

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