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Ethereum Price Analysis: ETH/USD drops a bit after failing to break above the Bollinger Band

FX Street
Updated:
  • ETH/USD went up from $127 to $134.25 this Friday.
  • The MACD indicator shows increasing bullish momentum.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD had a remarkably bullish Friday as the price jumped up from $127 to $134.25, going above the 20-day Simple Moving Average (SMA 20) curve. So far this Saturday, the price has dropped a bit to $133.15. The 20-day Bollinger Band has constricted, hinting at decreasing price volatility. The Moving Average Convergence/Divergence (MACD) indicates increasing bullish momentum, while the Elliott Oscillator has had eight straight bullish sessions. The daily chart shows us that the price was looking to jump above the Bollinger Band but ran out of momentum at the upper curve. 
 

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