ETH/USD trades below 50-day SMA for the first time since January. Ethereum looks to post losses for the second straight week. After rising above the $250 mark on Saturday, Ethereum (ETH/USD) lost its traction and erased more than 3% close the day at $237. With sellers taking control of the action in the cryptocurrency space on Sunday, the pair extended its slide and fell to its lowest level in a month at $203 before staging a technical rebound. As of writing, the pair was trading at $210, down nearly 10% on a daily basis. Technical outlook Ethereum fell below the 50-day SMA for the first time since early January and the RSI indicator on the daily chart is falling toward the 40 mark, showing the bearish momentum is intact. On the downside, $200 (psychological level/Fibonacci 61.8% retracement of the mid-January-mid-February rally) aligns as a critical support. With a daily close below that level, the pair could target $180 (100-day SMA/200-day SMA). Near-term resistances, on the other hand, could be seen at $225 (50-day SMA), $235 (Fibonacci 38.2% retracement of the mid-January-mid-February rally) and $240 (20-day SMA). 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 EUR/USD Forecast March 9-13 – Euro Jumps After Fed Rate Cut Kenny Fisher 3 years ETH/USD trades below 50-day SMA for the first time since January. Ethereum looks to post losses for the second straight week. After rising above the $250 mark on Saturday, Ethereum (ETH/USD) lost its traction and erased more than 3% close the day at $237. With sellers taking control of the action in the cryptocurrency space on Sunday, the pair extended its slide and fell to its lowest level in a month at $203 before staging a technical rebound. As of writing, the pair was trading at $210, down nearly 10% on a daily basis. Technical outlook Ethereum fell below the 50-day… 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.
