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Ethereum Price Analysis: ETH/USD finds support at the SMA 200 curve

FX Street
Updated:
  • ETH/USD went up from $169.95 to $176 this Tuesday.
  • The Elliott Oscillator has had two green sessions, following nine straight red sessions.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD is on course of registering four consecutive bullish days wherein the price went up from $160.15 to $177.20. In the early hours of Wednesday, the bears had initially taken control, but the market was able to find support at the SMA 200 curve and bounce back up. The price is hovering above the SMA 20 and SMA 50 curves The MACD indicates slight bullish momentum, while the Elliott Oscillator has had two green sessions, following nine straight red sessions. The RSI indicator is trending next to the overbought zone, hinting that it has more scope for growth before facing inevitable bearish correction.
 

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