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Ethereum price analysis: ETH/USD bulls roar back after two straight bearish days

FX Street
Updated:
  • ETH/USD went up from $187.40 fo $192.15  this Thursday.
  • The signal line has crossed over the moving average convergence/divergence (MACD) line indicating bullish momentum.

ETH/USD had a bullish day after two straight bearish days. This Thursday, the price of ETH/USD went up from $187.40 fo $192.15  this Thursday. Looking at the hourly breakdown, we can see that ETH/USD fell to $183.55, where the bulls found support and flew up to $194. Over there, the price met resistance and went down slightly to $192.15.

ETH/USD daily chart

fxsoriginal

The daily price chart has found resistance with on the downward trending line. The price is trending below the 200-day simple moving average (SMA 200), SMA 50, and SMA 20 curves. The signal line has crossed over the moving average convergence/divergence (MACD) line indicating bullish momentum. The Elliot oscillator has had four straight bullish sessions and the relative strength index (RSI) is trending around 45.45.
 

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