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Ethereum price analysis: ETH/USD bulls try to make a comeback in the middle of heavy bearish sentiment

FX Street
Published date:
Updated:
  • ETH/USD is currently priced at $201.65.
  • The Elliott oscillator shows two straight bearish sessions.

ETH/USD has had a bullish start to the day and is currently priced at $201.65. Before this, ETH/USD had gone through four straight bearish days after failing at the $221.15 line. The hourly breakdown shows us that ETH/USD was trending horizontally before it dropped from $210.40 to $201, charting a low of $199.50. The bulls have since corrected the price to $201.65.

ETH/USD daily chart

fxsoriginal

ETH/USD is below the 200-day Simple Moving Average (SMA 200) and above the SMA 20 and SMA 50 curves. The Moving Average Convergence/Divergence shows decreasing bullish momentum. The Elliott Oscillator shows two straight bearish sessions.  

 

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