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  • The RSI indicator is trending around the neutral zone, meaning that bulls and bears are canceling each other out.
  • The Elliott Oscillator has had seven straight green sessions.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD dropped from $130.55 to $127.65 as the price failed to break past the resistance provided by the 20-day Simple Moving Average (SMA 20) curve. The 20-day Bollinger Band has narrowed, hinting at decreasing price volatility, while the Elliott Oscillator has had seven straight green sessions, hinting that market sentiment before this Thursday has been bullish. The Relative Strength Index (RSI) indicator is trending around the neutral zone, meaning that bulls and bears are currently canceling each other out. Finally, the Moving Average Convergence/Divergence (MACD) indicates decreasing bullish momentum.