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Crypto Technicals: ETH/USD set to extend correction, next bear target 55-EMA at 218

Mon, 10 Jun 2019, 10:58 am UTC

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 218.84 (55-EMA); Resistance: 253.62 (20-DMA)

Technical Analysis: Bias Bearish

ETH/USD trades marginally higher on the day at 234.18, up 1.31% at 10:35 GMT.

The pair has paused downside, but technical analysis supports further weakness.

Bearish 5 and 20 DMA crossover, rising volatility on the daily charts and 'Bearish divergence' suggest downside.

Price action has retraced below 55-W EMA and 'Doji' on weekly charts adds to the bearish bias.

Next major support lies at 55-EMA at 218.84. Violation there will see dip till 38.2% Fib at 209.25.

5-DMA is immediate resistance at 241.70. Break above could see gains till 20-DMA at 253.61.

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

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  • Bitcoin (BTC) $11,420.30 (+3.96%)
  • Ethereum (ETH) $312.16 (+0.66%)
  • XRP (XRP) $0.463100 (+0.14%)
  • Bitcoin Cash (BCH) $475.09 (+0.58%)
  • Litecoin (LTC) $133.69 (-1.13%)
  • Bitcoin (BTC) $11,420.30 (+3.96%)
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