ETH/USD Technical Analysis: Things looking bleak as bearish behavior is on the horizon

ETH/USD daily chart

• ETH/USD is now trading for $139.
• The market has immediate resistance at $143 which the bulls will need to breach through.
• Market forms a triangle formation which is ready for a breakout.

ETH/USD 4-hour chart

• The ETH/USD 4-hour chart shows lower volatility as per the 20-day Bollinger band.
• The market is now trending below the 20-day simple moving average (SMA 20).
• The SMA 200 has crossed over the SMA 50 curve which is a definite sell sign.  

ETH/USD hourly chart

• The ETH/USD hourly market is trending below the red cloud of the Ichimoku indicator.
• The last session of the Elliot Wave oscillator is bearish.

Key Levels

• Resistance 3: $147.87
• Resistance 2: $145.43
• Resistance 1: $141.99
• Pivot Point: $139.55
• Support 1: $136.10
• Support 2: $133.66
• Support 3: $130.22