- ETH/USD fell from $219.25 to $214.25 in the early hours of Thursday.
- The SMA 20 curve is acting as immediate market resistance.
ETH/USD daily chart
Following a bullish Wednesday, wherein the price of ETH/USD went up from $209.70 to $219.25, the bears gained the upper hand this Thursday, pushing the price down to $214.25.The market is trending below the 20-day simple moving average (SMA 20) and SMA 50 curves. The SMA 20 curve acts as immediate market resistance. The moving average convergence/divergence shows increasing bullish momentum.
ETH/USD 4-hour chart
The 4-hour ETH/USD market is currently trending inside the green Ichimoku cloud. The Elliot oscillator shows 12 straight bullish sessions of increasing intensity. The SMA 20 has crossed over the SMA 50 and they are both trending below the market.
ETH/USD hourly chart
The hourly chart shows that the bulls took the price up to $218.75 before it met resistance and bounced down to $213.85, reaching a low of $211. During the latest hourly session, the price went back up to $214.25. The relative strength index (RSI) indicator went up to the overbought zone and then fell down to 50.