ETH/USD daily chart
- ETH/USD went down from $246.25 to $245.15 in the early hours of Thursday.
- The market is trending below the 20-day simple moving average (SMA 20) and above the SMA 50 and SMA 200 curves.
- The market is consolidating in a triangle formation and is getting primed for a breakout.
- The signal line is diverging away from the moving average convergence/divergence (MACD) line showing increasing bearish momentum.
- The relative strength index (RSI) is trending around 53 in the neutral zone.
ETH/USD 4-hour chart
- The four latest sessions of the 4-hour chart have the bulls canceling the bears ours immediately after they attempt a breakout.
- The 4-hour price has been trending below the green cloud of the Ichimoku indicator.
- The market is consolidating in a triangle formation before it gets ready for a breakout.
- The bulls will need to overcome resistance at $248.75.
- Elliot oscillator shows eight straight bullish sessions of decreasing intensity.
- The relative strength index (RSI) is trending around 44.
ETH/USD hourly chart
- In the early hours of Thursday, the bears took the price down from $246.15 to $245.38. After that, the bulls took the price up to $246.
- The narrowing of the 20-day Bollinger band hints at lower market volatility.
- The hourly price is currently trending horizontally.
- The hourly market is trending below the SMA 200 curve.
- The SMA 20 has crossed over the SMA 50, which is a bullish sign.
- The Elliot oscillator has had eight bullish sessions out of the last nine.
- The signal line is trending parallelly with the MACD line and is slowly converging with it, indicating decreasing bullish momentum.
BEST BROKERS TO TRADE CRYPTO
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.