Price Analysis

Ethereum Slides and Tests Major Support; Currently Trades at $186.22

  • Ethereum takes a downward stride, trades from $189 to $186 currently
  • ETH/USD takes down striding steps facing all the important supports and failing to stop at any
  • At the time of writing, ETH was trading above the lowest in the said time frame, i.e., $184.61

Ethereum slid by over 2% from trading around the major resistance ($190) at $189.27 at the onset of November 11, 2019. The short-term moving average of ETH coin indicates the selling pressure that the coin withholds at present. Currently has grounded support at 20-day EMA and 20-day SMA.

Ethereum Price Analysis

Ethereum
Ethereum Price Chart by TradingView

As observed from the above chart by Coinbase, we see that the coin had a relaxing stride initially, with a few bumps faced around 6:00 UTC. ETH/USD slid first slid from $189 to $187, followed by $185 and $184–forming the lowest of the said time frame. However, it currently trades at $186.22, which has grounded support from 5-day SMA at $186.21 followed by a 50-day moving average. Towards the recent trading zone, Ethereum rose by 0.87% to trade around the current price area.

The MACD of ETH is finely inclined at zero with a bearish outlook as the coin reflects bearish run in the upcoming days, and the recent hike is just embraced as a mirage.

The RSI of the coin is at 52.16, showing no extremities at present.

Tags

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.
Back to top button
Close