ETH/USD remains depressed while keeping downside break of five-week-old support line. Bearish MACD suggests another attempt to break 50-day EMA support. Monthly horizontal line adds to the upside barrier. ETH/USD extends the previous day’s downside momentum to 574.11, down over 1.0%, during early Thursday. The crypto major took a U-turn from the horizontal area including an early-month high on Wednesday before declining below an ascending trend line from November 15. However, a 50-day EMA triggered the pair’s bounce that couldn’t last beyond 594.00. Following that, ETH/USD drops back below the stated support line, now resistance, amid bearish MACD, which in turn suggests further weakness. As a result, Ethereum sellers are targeting a 50-day EMA level of 550.88 by press time before eyeing the monthly low near 530.30. During the quote’s further weakness past-530.30, the 500 threshold and late-November bottom around 480.00 will be in the spotlight. On the flip side, a clear break above the immediate resistance line, previous support, at 585 now, needs to cross the horizontal area with an upper end of 638.50 In a case where the ETH/USD bulls manage to cross 638.50 on a daily closing basis, it should be a cakewalk for the optimists to refresh the monthly peak surrounding 677.00. ETH/USD daily chart Trend: Bearish FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next AUD/USD: Bulls flirt with 0.7600 amid Brexit optimism, US dollar weakness FX Street 2 years ETH/USD remains depressed while keeping downside break of five-week-old support line. Bearish MACD suggests another attempt to break 50-day EMA support. Monthly horizontal line adds to the upside barrier. ETH/USD extends the previous day’s downside momentum to 574.11, down over 1.0%, during early Thursday. The crypto major took a U-turn from the horizontal area including an early-month high on Wednesday before declining below an ascending trend line from November 15. However, a 50-day EMA triggered the pair’s bounce that couldn’t last beyond 594.00. Following that, ETH/USD drops back below the stated support line, now resistance, amid bearish MACD, which in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.