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Ethereum Price Analysis: ETH/USD price action remains sluggish as bulls and bears cancel each other out

FX Street
Published date:
  • ETH/USD bulls took control following two bearish days and broke above the SMA 200.
  • The Elliott Oscillator had a red session following five straight green sessions.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD went up from $170.50 to $172.75 as the price managed to break above the SMA 200 curve. The price is still hovering above the SMA 20 and SMA 50 curves. The MACD shows decreasing bullish momentum, while the Elliott Oscillator had a red session following five straight green sessions. The hourly breakdown shows us that the price managed to pick up to $174.06 within the first six hours and then dropped to $169.55 in the next six, before settling itself around $172.75.

Key levels

 

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