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Ethereum Price Analysis: ETH/USD drops below the upward trending line

FX Street
Updated:
  • ETH/USD has currently found resistance at the SMA 20 curve.
  • The RSI continues to trend horizontally in the neutral zone.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD had a bullish start to Wednesday as the price went up slightly from $201 to $201.55. This followed a bearish Tuesday, wherein the price fell below the upward trending line. The MACD shows sustained bearish momentum, while the RSI has been moving horizontally in the neutral zone.

The price faces stiff resistance at the SMA 20, $207.45 and $216. On the downside, healthy support levels lie at $194.25, SMA 50 and $187.50.

Key levels

 

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