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Ethereum Price Analysis: Bulls try to break above the flag formation and enter $150-zone

FX Street
Published date:
  • ETH/USD has found support at the upward trending line.
  • The MACD indicator shows decreasing bullish momentum.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD went up from $143.50 to $147 in the early hours of Tuesday. In the process, it made up for all the losses it suffered this Monday, wherein ETH/USD fell from $146.50 to $143.50. The price is currently sandwiched between the upward trending line and the upper curve of the 20-day Bollinger Band. The 20-day Simple Moving Average (SMA 20) curve is looking to cross over the SMA 50 curve, which is a bullish sign.

The Moving Average Convergence/Divergence (MACD) indicates that while the market momentum is still bullish, its intensity has been decreasing the last few days. The Elliott Oscillator has had 17 green sessions out of the previous 18, indicating that the overall market sentiment is bullish.
 

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