- ETH/USD went down from $184.50 to $182.10 this Monday.
- The SMA 50 curve has crossed over the SMA 20 curve in the hourly chart, which is a bearish sign.
ETH/USD daily chart
The daily ETH/USD is consolidating in a flag formation. This Monday price had gone up from $184.50 to $182.10. This Tuesday, the bears had taken control of the market and brought the price down to $182.75. The 50-day Simple Moving Average (SMA 50) curve acts as immediate market support.
ETH/USD four-hour chart
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The four-hour chart has spiked above the green Ichimoku cloud and is currently trending in a downward channel formation. The bulls must overcome resistance at the SMA 20 curve to continue the upward momentum. The Moving Average Convergence/Divergence (MACD) indicates bearish market momentum. The Bollinger width is trending at around 0.075, which shows decreasing market volatility.
ETH/USD hourly chart
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The SMA 50 has crossed over the SMA 20 curve, which is a bearish sign. Both of these curves are also acting as immediate market resistance. The 20-day Bollinger Band has gradually constricted, showing decreasing market volatility. The Relative Strength Index (RSI) indicator is trending around the neutral zone.
Key Levels
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