Home Ethereum Price Analysis: ETH/USD bears stay in control for three straight days as it trends between SMA 20 and SMA 50 curves
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Ethereum Price Analysis: ETH/USD bears stay in control for three straight days as it trends between SMA 20 and SMA 50 curves

FX Street
Published date:
  • ETH/USD faces three straight bearish days as the price looks to consolidate below the $230–level.
  • The Elliott Oscillator has had six consecutive red sessions, showing sustained bearish sentiment.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD dropped from $231 to $229.80, following three straight bearish days. The price is currently sandwiched between SMA 20 and SMA 50 curves. The 20-day Bollinger Band has narrowed, indicating decreasing price volatility. Finally, the Elliott Oscillator has had six straight red sessions, showing sustained bearish sentiment.

Support and Resistance

ETH/USD has three strong resistance levels at SMA 20, $238.45 and $244.10. On the downside, it has three healthy support levels at $224, $218.25 and SMA 50.

Key levels

 

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