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Price Analysis

Ethereum Price Analysis: Ethereum (ETH) Exhibits A Bearish Crossover; Trades with a Selling Pressure

  • Ethereum trades below $200 since the start of the day today.
  • Important to note that the coin has slipped even below $190.

Ethereum in past 7 days has recorded the lowest price as $178.14. But it had made a bounce back and traded as high as $207 in the same time frame. While in the past 24 hours the coin notably traced a downtrend that again took the coin below $190. Bitcoin is trading near its major support level of $10,000 and has exhibited a bearish trendline in the past 24 hours. Ethereum and XRP, the next major coins after Bitcoin also seem to be influenced and have come under strong selling pressure. All in all, the crypto market has a pale trading day today as most of the coins majorly trade with negative figures.

ETH to USD Price Chart by TradingView:

The chart is a data feed from Coinbase as on 21st August at 11:50 UTC.

Ethereum Price Comparison
ETH Price Chart by TradingView

ETH to USD Price Comparison:

Ethereum was rightly above $200 at $202 until yesterday. The bearish outlook took place just 24 hours back which first took the coin below $200 and then below $190. As observed from the above 6-hourly movement of the coin, ETH has fallen from the trading price of $189.61 to $186.30 by 1.74%. The coin creates a double bottom at $186.30 in the said time frame. Later, Ethereum made constant attempts to have a better trading but couldn’t really grow above $188.92. Sliding a little, the coin currently trades at $187.62 with a marginal 0.6% plunge. Ethereum to face a major resistance and support at $180 and $200 respectively.

Technical Indicators:

The current trading price of the coin is 2.97% and 2.90% less than its 5-day SMA ($193.37) and 5-day EMA ($193.24), trades with constant selling pressure.

The MACD of the coin moves to have a bearish crossover as the signal line crosses the MACD line.

The RSI of the coin remains at 50 exhibiting no extremities.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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