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Bears step in to tackle ETH/USD at $275

  • ETH/USD went up from $268.55 to $274.25 this Monday. 
  • Tuesday has been bearish thus far, as the worth has gone down to $270.25.

ETH/USD each day chart

The each day ETH/USD value is presently trending in an upwards channel. 4 out of the final seven classes have been bullish. The value went up from $268.55 to $274.25 this Monday. The bears stepped in this Tuesday and prevented the worth from breaching previous the $275-level. ETH/USD is presently buying and selling at $270.25. The value is trending above the 200-day easy transferring common (SMA 200), SMA 50 and SMA 20 curves. The transferring common convergence/divergence (MACD) indicator exhibits that the sign line is diverging away from the MACD line, indicating bullish momentum.

ETH/USD Four-hour chart

The Four-hour ETH/USD market exhibits that the newest value session has damaged previous the help supplied long-running upward trending line. ETH/USD bulls have discovered resistance at $277.50 and $275. The Ichimoku cloud turned purple this Monday however has since develop into inexperienced once more. The relative power index (RSI) indicator is trending round 56.25. The SMA 200 curve momentarily crossed over the SMA 50 curve earlier than the SMA 50 regained its lead.

ETH/USD hourly chart

The hourly ETH/USD chart is trending beneath the SMA 50 and SMA 20 curves whereas it’s nonetheless above the SMA 200 curve. The Elliot oscillator exhibits three straight bearish classes of accelerating bearish depth. The three newest classes have pushed the worth down in the direction of the decrease curve of the 20-day Bollinger band. The narrowing of the Bollinger jaw additionally signifies decrease market volatility.

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