Crypto Technicals: ETH/USD breaks below 200-SMA, tests 23.6% Fib at 234

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 216.96 (21-EMA); Resistance: 267.51 (Weekly cloud base)

Technical Analysis: Bias Neutral to Slightly Bearish

ETH/USD trades 3.56% lower on the day at 234.54 at 08:55 GMT.

The pair has broken below 1H 200-SMA and hovers around 23.6% Fib retracement at 234.

5-DMA is flat, Stochs and RSI are showing a rollover from overbought levels.

MACD is on verge of a bearish crossover on signal line and volatility is shrinking.

Break below 230 will see dip till 21-EMA at 217. Break below 21-EMA to see further downside.

On the flipside, the pair finds stiff resistance at weekly cloud, further upside only on break above.

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