Ethereum Price Analysis: ETH/USD trends in the lower half of the 20-day Bollinger Band for the seventh straight day

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  • ETH/USD had a bearish Tuesday, following two consecutive bullish days.
  • ETH/USD is currently sandwiched between the SMA 20 and SMA 50 curves. 
  • The Elliott Oscillator has had six straight red sessions.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD dipped a bit from $227.89 to $226.15, following two straight bullish days. Over the last seven days, the price has been trending in the lower half of the 20-day Bollinger Band curve. The Elliott Oscillator has had six straight red sessions, while William’s %R is trending around -72.55, next to the oversold zone.

Support and Resistance

ETH/USD has strong resistance levels at $231.50 (SMA 20), $235 and $243.25 (20-day Bollinger Band upper curve). On the downside, healthy support levels lie at $225.15 (SMA 50) and $220.65 (20-day Bollinger band lower curve).

Key levels

 

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