Ethereum (ETH) technical analysis:
Trade setup: Price is still in an Uptrend on long-term basis. Recently it had a bearish breakout from Descending Triangle pattern, followed by a break below 1,700 support. It’s now reached 200-day moving average (~$1,630) and a long-term up trendline (blue line in chart), which could serve as support area. Price is also getting oversold (RSI < 30).
Trend: Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $1,700, which it broke, then $1,400. The nearest Resistance Zone is $1,800 (previous support), then $2,000 and $2,150.
Trade setup: Price is still in an Uptrend on long-term basis. Recently it had a bearish breakout from Descending Triangle pattern, followed by a break below 1,700 support. It’s now reached 200-day moving average (~$1,630) and a long-term up trendline (blue line in chart), which could serve as support area. Price is also getting oversold (RSI < 30).
Trend: Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $1,700, which it broke, then $1,400. The nearest Resistance Zone is $1,800 (previous support), then $2,000 and $2,150.