ETH/USD becomes sluggish as bulls and bears cancel each other out

ETH/USD daily chart

• ETH/USD daily chart forms bullish flag patterns which are ready for a breakout.

ETH/USD 4-hour chart

• Bulls and bears cancel each other out in the last two sessions.
• ETH/USD 4-hour market trends sideways but remains in the bullish zone since it is trending above the 20-day simple moving average (SMA 20) curve.
• The relative strength index (RSI) is creeping along the overbought zone.

ETH/USD hourly chart

• Market forms ascending wedge which is prime for a breakout.
• Moving average convergence/divergence shows that bullish momentum is decreasing.

Key Levels

• Resistance 3: $160.77
• Resistance 2: $156.80
• Resistance 1: $151.80
• Pivot Point: $147.82
• Support 1: $142.82
• Support 2: $138.84
• Support 3: $133.84