Home Ethereum Price Analysis: ETH/USD bears take back control as price fails near the $240-level
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Ethereum Price Analysis: ETH/USD bears take back control as price fails near the $240-level

FX Street
Updated:
  • ETH/USD sellers stepped back in following a bullish Friday.
  • The MACD shows increasing bearish market momentum.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD bears came back strong as the price fell from $237.55 to $236.88 in the early hours of Saturday. The MACD shows increasing bearish momentum, while the Elliott Oscillator has had three straight red sessions, indicating increasing bearish market sentiment.

Support and Resistance

ETH/USD has two strong resistance levels on the upside at $241.15 and $248.30.  Plus, there are four healthy support levels at SMA 20, $230.50, $220.80 and SMA 50.

Key levels

 

FX Street

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