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ETH/USD continues to trend in a downward channel formation

  • ETH/USD bears are wanting to drop the worth beneath the Bollinger Band.
  • The Relative Power Index (RSI) indicator is trending round 34.35.

ETH/USD each day chart

ETH/USD failed on the $150-level this Monday and has strung collectively three consecutive bearish days because it tendencies in a downward channel formation. This Wednesday, ETH/USD dropped from $145.85 to $143.25. The 20-day Easy Transferring Common (SMA 20), SMA 50 and SMA 200 curves are floating above the worth. The 20-day Bollinger Band has narrowed, indicating lowering market volatility. The Relative Power Index (RSI) indicator is trending round 34.35, whereas the Elliott Oscillator has had seven straight inexperienced periods. The Transferring Common Convergence/Divergence (MACD) signifies lowering bullish momentum.
 

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