Home Ethereum Price Analysis: ETH/USD tries to consolidate above $230 following Wednesday’s bloodbath
Crypto News

Ethereum Price Analysis: ETH/USD tries to consolidate above $230 following Wednesday’s bloodbath

FX Street
Updated:
  • ETH/USD bears have managed to stay in control for the third straight day.
  • William’s %R has dropped from the overbought zone onto the neutral zone.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD bears have managed to stay in control for the third straight day. The price has dropped slightly from $234.53 to $234.47, as ETH/USD continues consolidation above the $230-level. William’s %R has fallen from the edge of the overbought zone to the neutral territory, where it is currently trending horizontally. Finally, the Elliott Oscillator shows four straight green sessions, despite recent bearish price actions.

Support and Resistance

ETH/USD has two strong resistance levels at $242.80 and $248.15. On the downside, we have healthy resistance at $237.70 (SMA 20), $231, $227.80 and $222.25 (SMA 50).

Key levels

 

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