Home Ethereum price analysis: ETH/USD continues to consolidate in a flag formation
Crypto News

Ethereum price analysis: ETH/USD continues to consolidate in a flag formation

FX Street
Updated:
  • ETH/USD is currently priced at $217.25 in the early hours of Saturday.
  • The price is trending below the green Ichimoku cloud.

ETH/USD currently consolidating in a flag formation for the last three days. ETH/USD is priced at $217.25 at the time of writing. The hourly price chart shows that the price first went up to $217.50, where it met resistance and then fell to $215.85. The bulls then re-entered the fray and took the price up to $217.25.

ETH/USD daily chart

fxsoriginal

The daily price is trending below the green Ichimoku cloud and the 20-day simple moving average (SMA 20) curve acts as immediate market resistance. The bulls will want to overcome resistance at SMA 20 and $222. The moving average convergence/divergence (MACD) shows five straight bullish sessions. The Elliot oscillator has had 15 bullish sessions out of the last 16.
 

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