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Crypto Technicals: ETH/USD hovers around 5-DMA, overbought conditions may lead to further unwinding

Fri, 17 May 2019, 11:20 am UTC

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 193 (21-EMA); Resistance: 300

Technical Analysis: Bias Bullish

ETH/USD extends retrace from 8-month highs of 281

The pair slumped over 12% on the day to hit lows of 224 before paring some losses to trade at 235 at 10:50 GMT

Price action is currently hovering around 5-DMA and close below will see further weakness

Further, overbought conditions in oscillators supports further unwinding

Immediate support below 5-DMA lies at 38.2% Fib at 204.92. Further weakness will see test of 21-EMA at 193

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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  • Bitcoin (BTC) $7,247.31 (+0.44%)
  • Ethereum (ETH) $145.54 (+1.47%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $207.68 (+0.28%)
  • Litecoin (LTC) $43.98 (+0.19%)
  • Bitcoin (BTC) $7,247.31 (+0.44%)
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