Crypto Technicals: ETH/USD edges lower from 8-month highs, potential 'Shooting Star' keeps scope for weakness
Thu, 16 May 2019, 11:00 am UTC
ETH/USD chart - Trading View
Exchange - Coinbase
Support: 220 (5-DMA) ; Resistance: 300
Technical Analysis: Bias Bullish
ETH/USD is trading largely unchanged at 248 at 10:45 GMT
The pair has edged lower from 8-month highs at 274, scope for correction
A potential 'Shooting Star' formation seen on the daily charts, adds to bearish signals
Price action has edged above Upper Bollinger Band and Oscillators are at overbought levels
Immediate support lies at 5-DMA at 219. Break below will see drag lower
Breakout above 300 mark could see further upside.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
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