- William’s %R has jumped and is trending near the overbought zone. This shows that bearish correction could be expected.
- The price re-entered the $200-zone this Friday.
ETH/USD daily chart
The bulls retained control of the market as ETH/USD went up from $207.30 to $207.50 this Saturday. The bulls remained in power from this Friday, wherein the price spiked from $198.55 to $207.20, crossing above the $200 key psychological level and the SMA 20, in the process.
William’s %R has jumped and is trending near the overbought zone. This shows that bearish correction could be expected. The bulls must overcome strong resistance levels at $215 and $223.60. The former has previously thwarted the market and prevented bullish momentum in multiple instances, as per the chart above. On the downside, healthy support levels lie at SMA 20, $199.20, SMA 50, $186.15 and SMA 200