Home Ethereum price analysis: ETH/USD struggles to break past resistance at the SMA 20 curve
Crypto News

Ethereum price analysis: ETH/USD struggles to break past resistance at the SMA 20 curve

FX Street
Updated:
  • ETH/USD has found resistance at both the SMA 20 and SMA 50 curves.
  • 20-day Bollinger width has narrowed, indicating decreasing market volatility.

ETH/USD buoyed the price up slightly from $174.60 to $174.85 in the early hours of Tuesday. It looks like the bulls want to retake control of the market after the bears took over on Monday and brought ETH/USD down from $175.71 to $174.60. The hourly ETH/USD price chart shows us two significant price actions. Firstly, after steadily dropping to $174.27, the price spiked up to $177.25 in one hour. Just four hours later, the price plunged from $176.71 to $173.

ETH/USD daily chart

fxsoriginal

ETH/USD has to overcome resistance at the 20-day Simple Moving Average (SMA 20) and SMA 50 curves. The 20-day Bollinger band has narrowed significantly, which indicates decreasing market volatility. The Moving Average Convergence/Divergence (MACD) shows sustained bearish momentum, while the Elliott Oscillator has had two green sessions following seven consecutive red sessions.
 

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.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024