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Ethereum Price Analysis: ETH/USD experiences bearish correction following a heavily bullish Wednesday

FX Street
Updated:
  • ETH/USD had a bearish start to the day and faces resistance levels at $214.95 and $224.25. 
  • The Elliott Oscillator and MACD shows sustained bearish sentiment.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD had a bearish start to Thursday as it fell from $208.37 to $207.50. The MACD shows sustained bearish momentum, while the Elliott Oscillator has had eight consecutive red sessions. Finally, the RSI is trending horizontally around the neutral zone.

ETH/USD faces two strong resistance levels at $214.95 and $224.25. On the downside, there are four healthy support levels at SMA 20, $202.50, SMA 50 and $188.70.

Key levels

 

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