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Ethereum Price Analysis: ETH/USD bulls try to stage comeback but face resistance at SMA 20

FX Street
Updated:
  • ETH/USD bulls stepped back in after the price failed at the $250 level this Thursday.
  • The MACD shows increasing bearish market momentum.

ETH/USD daily price chart

ETH/USD daily chart

ETH/USD has gone through a bullish correction in the early hours of Friday, as the price went up from $230.15 to $232. This Thursday, the price got rejected at the $248.30 resistance level. The MACD shows increasing bearish market momentum, while the Elliott Oscillator has had two consecutive red sessions.

Support and Resistance

The price faces immediate resistance at the SMA 20 curve. Above that, ETH/USD bulls face two more robust resistance levels at $240.30 and $248.30. On the downside, ETH/USD has three healthy support levels at $218.36, SMA 50 and $208

Key levels

 

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