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October 20, 2019
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Ethereum News

Ethereum technical analysis: ETH/USD bulls still aiming for $250-level

ETH/USD daily chart

  • ETH/USD failed at the $250-level and is currently priced at $247.65.
  • The five latest sessions have all been trending below the 20-day simple moving average (SMA 20) curve.
  • The market has found support on the upward trending line.
  • The Elliot wave oscillator has had nine bearish sessions in a row.
  • The moving average convergence/divergence (MACD) indicator shows increasing bearish momentum.

ETH/USD 4-hour chart

  • The 4-hour market is trending below the green Ichimoku cloud.
  • The upcoming market sentiment, according to the Ichimoku indicator, is bearish.
  • The $250 level has provided strong resistance to the 4-hour market.
  • The relative strength index (RSI) is trending at 47.6.
  • The MACD indicator shows that the signal line was about to converge with the MACD line and then it diverged away. This means that bullish momentum was decreasing before it suddenly went up again.
  • The Elliot oscillator has had 13 bullish sessions out of the last 14.

ETH/USD hourly chart

  • The hourly ETH/USD price had two instances where it went outside its Bollinger band (once below and once above). In both cases, the price corrected almost immediately.
  • The SMA 50 has crossed over the SMA 20 curve, which is a bearish sign.
  • The 4-hour market is also trending below the SMA 200 curve.
  • The Bollinger band is widening, showing that the market volatility is increasing.
  • The RSI indicator is trending around 60.30.
  • The Elliot oscillator has had five straight bullish sessions.

source: https://www.fxstreet.com/cryptocurrencies/news/ethereum-technical-analysis-eth-usd-bulls-still-aiming-for-250-level-201906070150

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