Copy link
Increase text size
Decrease text size
Link copied

Crypto Technicals: ETH/USD fails at 55-EMA, breach below 200H MA (135.66) will see resumption of weakness

Thu, 09 Jan 2020, 05:06 am UTC

ETH/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Near-Term Neutral

Overbought/ Oversold Index: Overbought, on verge of rollback into neutral

Support: 135.66 (200H MA); Resistance: 144.36 (55-EMA)

ETH/USD trades largely muted on the day at 139.94, down 0.49% at 04:55 GMT.

Price action has failed to break stiff resistance at 55-EMA (currently at 144.36).

The pair has formed a 'Spinning Top' formation on Wednesday's candle, suggesting indecision.

Major trend in the pair has been bearish and rejection at 55-EMA has raised scope for downside resumption.

Stochs are at overbought on verge of rollover into neutral. RSI is now biased lower.

The pair trades below 5-DMA and finds strong support at 200H MA at 135.66. Breach at 200H MA support will open downside.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

Back to top
Copyright ⓒ TokenPost. All Rights Reserved.