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  • ETH/USD fell from $158.80 to $156.80 this Monday.
  • The bulls must overcome resistance at the SMA 50 and SMA 200 to reverse bearish sentiment.

ETH/USD daily chart

ETH/USD daily chart

Following a bearish Monday, the bulls have started staging a comeback in the early hours of Tuesday, taking the price up from $156.80 to $157.80. The price continues to consolidate in a flag formation below the $160-level. The bulls need to overcome resistance at the SMA 50 and SMA 200 to reverse bearish market sentiment. The MACD indicates decreasing bullish momentum, while the RSI is trending horizontally around the neutral zone.

Key levels