Ethereum resumes the downtrend amidst broad-based declines in the cryptocurrency market. Ethereum’s short-term technical picture remains positive despite the correction on Thursday. Spot rate: $173.82 Relative change: -0.8456 Percentage change: -0.47% Trend: Bullish Volatility: Shrinking ETH/USD daily chart Ethereum corrects under the 50-day Simple Moving Average (SMA) as it approaches the critical support at $170. The Relative Strength Index (RSI) downward slope signifies the strong bearish grip on the price. ETH/USD 240′ chart For the first time in a week, Ethereum is grinding closer to the support at $170. The Moving Average Convergence Divergence (MACD) sinks deeper in the negative region emphasizing the growing bearish momentum. ETH/USD 60′ chart From a short-term perspective, Ethereum has the potential to force a reversal towards $180. The MACD shows Ethereum having a short-term bullish bias but the bulls must make sure to defend the trendline support. 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. View All Post By FX Street Crypto News share Read Next Litecoin price analysis: LTC/USD peeks below 20-day Bollinger band, may face bullish correction soon FX Street 4 years Ethereum resumes the downtrend amidst broad-based declines in the cryptocurrency market. Ethereum's short-term technical picture remains positive despite the correction on Thursday. Spot rate: $173.82 Relative change: -0.8456 Percentage change: -0.47% Trend: Bullish Volatility: Shrinking ETH/USD daily chart Ethereum corrects under the 50-day Simple Moving Average (SMA) as it approaches the critical support at $170. The Relative Strength Index (RSI) downward slope signifies the strong bearish grip on the price. ETH/USD 240' chart For the first time in a week, Ethereum is grinding closer to the support at $170. The Moving Average Convergence Divergence (MACD) sinks deeper in the negative… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
