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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) $10,794.00 (-0.79%)
  • Ethereum (ETH) $196.97 (-2.71%)
  • XRP (XRP) $0.274900 (-2.35%)
  • Bitcoin Cash (BCH) $315.73 (-2.48%)
  • Litecoin (LTC) $75.26 (-2.20%)
  • Bitcoin (BTC) $10,794.00 (-0.79%)
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