Ethereum Price Analysis: ETH/USD bears take price below the SMA 50

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  • ETH/USD bears have managed to stay in control for the second straight day.
  • The MACD shows that market momentum has been consistently bearish.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD bears stayed in control for the second straight day as the price fell from $226.50 to $226.30 this Friday. In the process, ETH/USD has managed to drop below the SMA 50 curve. The MACD shows that the overall market momentum has been consistently bearish.

Support and Resistance

ETH/USD faces strong resistance levels at $227 (SMA 50), $230.75 (SMA 20), $238 and $247.70. On the downside, healthy support lies at $230.35 and $214.25

Key Levels

 

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