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Ethereum Price Analysis: ETH/USD drops below the $160-level

FX Street
Published date:
  • The price has crept back into the 20-day Bollinger Band.
  • The SMA 20 has crossed over the SMA 50 curve, which is a bullish sign.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD has dropped from $166.25 to $158.85 so far this Thursday as the bulls failed to keep the price above the $160-level. In the process, the price was able to creep back into the 20-day Bollinger Band, hinting that the asset is no longer overpriced. The Relative Strength Index (RSI) indicator has dropped below the overbought zone, reflecting the bearish correction. The Moving Average Convergence/Divergence (MACD) indicates decreasing bullish momentum.
 

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