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  • ETH/USD bears remained in control of the market for the second straight day.
  • William’s %R is trending around -5.55 in the overbought zone, so more bearish correction may be expected.
  • The MACD shows that the market momentum has reversed from bearish to bullish.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD bears remained in control for the second straight day as the price fell from $214.66 to $213.46. Despite the adverse price action, the MACD shows that the market momentum has reversed from bearish to bullish. William’s %R is trending around -5.55 in the overbought zone, so more downward price correction may be expected.

The price faces two strong resistance levels on the upside at $223 and $232.63. On the downside, healthy support lies at  $207.15, SMA 20 and $197.

Key levels