Ethereum Price Analysis ETH / USD: False Hope
Ethereum / USD Short-term price analysis
Ethereum has a bearish short-term trading bias, with the cryptocurrency still trading below its 200-period moving average on the four-hour time frame.
The four-hour time frame shows that the ETH / USD pair has moved back inside a neutral triangle pattern, following a false upside breakout towards the $240.00 level.
Technical indicators on the four-hour time frame currently have a slight bullish bias.
Pattern Watch
Traders should note that a bearish breakout from the triangle pattern could prompt a decline towards the $170.00 level.
Relative Strength Index
The RSI indicator on the four-hour time frame has a bullish bias and is currently attempting to stabilize above neutral territory.
MACD Indicator
The MACD indicator on the four-hour time frame is rising and is starting to issue a buy signal.
Ethereum / USD Medium-term price analysis
Ethereum has a neutral medium-term trading bias, with the ETH / USD pair consolidating around its trend defining 200-day moving average.
The daily time frame is showing that the ETH / USD pair is trading below the neckline of a bearish head and shoulders pattern, following a failed attempt to break higher.
Key technical resistance on the daily time frame is located at the $240.00 $275.00 levels, while key downside support is found at the $200.00 and $170.00 levels.
Technical indicators on the daily time frame currently have a slight bearish bias.
ETH / USD Daily Chart by TradingView
Pattern Watch
Traders should be on guard for a strong upside rally towards the $275.00 level to complete the bearish head and shoulders pattern.
Relative Strength Index
The RSI indicator on the daily time frame is bearish and continues to issue a sell signal.
MACD Indicator
The MACD indicator on the daily time frame is turning lower and currently has a slight negative bias.
Conclusion
Ethereum is coming under increasing downside pressure and risks falling below the $200.00 level, following the recent rejection its 200-period moving average on the four-hour time frame.
Overall, bulls quickly need to rally the ETH / USD pair away from the $200.00 level in order to avoid triggering a bearish head and shoulders pattern.
Ethereum has a bearish short-term trading bias, with the cryptocurrency still trading below its 200-period moving average on the four-hour time frame.
The four-hour time frame shows that the ETH / USD pair has moved back inside a neutral triangle pattern, following a false upside breakout towards the $240.00 level.
Technical indicators on the four-hour time frame currently have a slight bullish bias.
Pattern Watch
Traders should note that a bearish breakout from the triangle pattern could prompt a decline towards the $170.00 level.
Relative Strength Index
The RSI indicator on the four-hour time frame has a bullish bias and is currently attempting to stabilize above neutral territory.
MACD Indicator
The MACD indicator on the four-hour time frame is rising and is starting to issue a buy signal.
Ethereum / USD Medium-term price analysis
Ethereum has a neutral medium-term trading bias, with the ETH / USD pair consolidating around its trend defining 200-day moving average.
The daily time frame is showing that the ETH / USD pair is trading below the neckline of a bearish head and shoulders pattern, following a failed attempt to break higher.
Key technical resistance on the daily time frame is located at the $240.00 $275.00 levels, while key downside support is found at the $200.00 and $170.00 levels.
Technical indicators on the daily time frame currently have a slight bearish bias.
ETH / USD Daily Chart by TradingView
Pattern Watch
Traders should be on guard for a strong upside rally towards the $275.00 level to complete the bearish head and shoulders pattern.
Relative Strength Index
The RSI indicator on the daily time frame is bearish and continues to issue a sell signal.
MACD Indicator
The MACD indicator on the daily time frame is turning lower and currently has a slight negative bias.
Conclusion
Ethereum is coming under increasing downside pressure and risks falling below the $200.00 level, following the recent rejection its 200-period moving average on the four-hour time frame.
Overall, bulls quickly need to rally the ETH / USD pair away from the $200.00 level in order to avoid triggering a bearish head and shoulders pattern.
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.