Home Ethereum Price Analysis: ETH/USD bulls launch their comeback as they aim for the $120-level
Crypto News

Ethereum Price Analysis: ETH/USD bulls launch their comeback as they aim for the $120-level

FX Street
Updated:
  • Earlier this Monday, ETH/USD dropped from $123.45 to $111.75.
  • The RSI indicator is looking to creep above the oversold zone as bulls take back control.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD bulls took control of the market this Tuesday as the price went up from $111.75 to $117.57 as they aim to take the price back above the $120-level. This followed a bearish Monday wherein the price fell from $123.45 to $111.75. The price is currently consolidating in a flag formation and has found support on the lower curve of the 20-day Bollinger Band. The MACD indicates sustained, yet decreasing bearish momentum, while the RSI indicator is looking to creep above the oversold zone following this Tuesday’s bullish price action.
 

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.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024