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Ethereum price analysis: ETH/USD re-enters $200-zone

  • Newest price session crosses previous the resistance provided by the SMA 200 curve.
  • Elliot oscillator has had a bullish session after seven straight bearish periods.

This Sunday, the ETH/USD price session has had a bullish breakout from the flag formation. This Monday has carried ahead the bullish momentum and allowed ETH/USD to get again into the $200-zone. During the last two days, the price has gone up from $185.65 to $200.75. The hourly chart reveals that the price went as much as $194.80 to $201.50 inside two hours, the place it trended horizontally for a bit and fell to $196.35. Since then, the price went again as much as $200.75.

ETH/USD each day chart

The most recent price session has gone previous the resistance provided by the 200-day easy shifting common (SMA 200) curve. The SMA 50 and SMA 20 curves are nonetheless trending above the each day price chart. The shifting common convergence/divergence (MACD) indicator reveals that market momentum is altering from bearish to bullish. The Elliot oscillator has had a bullish session after seven straight bearish periods.
 

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