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Bulls try to end on a high following another overwhelmingly bearish day

  • ETH/USD fell from $196.60 to $187 over this Wednesday.
  • MACD indicator reveals that market momentum has returned to being bearish.

Ethereum has ended up with a second bearish day in a row, whereby it fell from  $196.60 to $187. The hourly breakdown of the value reveals that the value plummeted from $196.60 to $180 inside 12 hours. After that, the bulls picked up the value to $187 in the direction of the end.

ETH/USD day by day chart

The day by day value chart has discovered resistance on the downward trending line and the 200-day easy transferring common (SMA 200) curve. The transferring common convergence/divergence (MACD) indicator reveals that market momentum reversed from bearish to bullish this Tuesday earlier than it went again to being bearish. The Elliot Oscillator apparently reveals three straight bullish periods. The relative power index (RSI) indicator has dipped to 36.36 and is trending subsequent to the oversold zone.
 

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