Home Ethereum Technical Analysis: ETH/USD slips below $230 and it’s at risk of losing the daily 26-EMA
Crypto News

Ethereum Technical Analysis: ETH/USD slips below $230 and it’s at risk of losing the daily 26-EMA

FX Street
Published date:
  • ETH/USD dropped to $226.51 on June 19 but recovered.
  • The 4-hour chart is in a downtrend and ETH is slowly losing strength.

Ethereum is in a clear 4-hour downtrend and a daily downtrend. Things aren’t looking too good for ETH in the short-term. Ethereum 2.0 is still a beacon of hope for traders but no one truly knows when it’s going to be deployed exactly. 

ETH/USD 4-hour chart

ETHUSD

Ethereum hit $231.8 after the drop on June 19 but that is a clear lower high which confirms the 4-hour uptrend. Bulls have not been able to stay above the 4-hour 12-EMA. The RSI is oversold but the bearish momentum is quite strong and will most likely ignore this indicator in the short-term. 

Buyers are facing resistance at $231.88 as well as $231.64, the current 26-EMA, and $230.47 the 12-EMA. More resistance levels are established at $234.48 and $237.21 highs. For support, bulls only have the last low of $226.51 and $218.14 daily low. 

ETH/USD technical levels

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2026