ETH/USD is moving inside a wide range with a bearish bias. The critical support is created by the lowest level since May 11. Ethereum (ETH) is changing hands at $206.50. The coin has recovered from the intraday low of $203.74; however, it is still 1.5% lower from the start of the day. ETH/USD has been moving in sync with the market that experienced a sharp sell-off on Wednesday, following the information that someone moved BTC mined in the first months of its existence. Ethereum’s daily trading volume has exceeded $12 billion, while its total market value reached $23.0 billion. ETH/USD: Technical picture On the intraday charts, ETH/USD is now supported by 1-hour SMA200 at $205.00, followed by the intraday low of $203.74. If this area is cleared, the sell-off may be extended towards a psychological $200.00. The next critical support is created by $190.00 with daily SMA100 located on approach. A sustainable move below this area will open up the way towards $186.00 (a confluence of daily SMA50 and the lower line of the daily Bollinger Band). ETH/USD bottomed at $176.19 on May 11, this level is likely to serve as a backstop in case of an extended sell-off. A downward-looking RSI on a daily chart implies that ETH may continue drifting lower within the current range. ETH/USD daily chart On the upside, the Asian high ($211.53) creates the initial resistance reinforced by a combination of 1-hour SMA50 and SMA100. This barrier that separates the price from the extended recovery towards of $215.00-$216.00 area that served as an upper boundary of Wednesday’s consolidation channel. The next resistance comes at $220.00 ETH/USD 1-hour chart 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. View All Post By FX Street Crypto News share Read Next BoT keeps the easing bias unchanged – UOB FX Street 2 years ETH/USD is moving inside a wide range with a bearish bias. The critical support is created by the lowest level since May 11. Ethereum (ETH) is changing hands at $206.50. The coin has recovered from the intraday low of $203.74; however, it is still 1.5% lower from the start of the day. ETH/USD has been moving in sync with the market that experienced a sharp sell-off on Wednesday, following the information that someone moved BTC mined in the first months of its existence. Ethereum’s daily trading volume has exceeded $12 billion, while its total market value reached $23.0 billion. ETH/USD:… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
