Crypto Technicals: ETH/USD finds strong support at 110-EMA (159.10), consolidation at current levels likely before next leg higher
Mon, 20 Jan 2020, 06:41 am UTC
ETH/USD chart - Trading View
Exchange - Coinbase
Technical Analysis: Bias Neutral
GMMA Indicator: Major Trend - Slightly Bullish; Minor Trend - Neutral
Overbought/ Oversold Index: Overbought, on verge of rollback into neutral
Support: 159.10 (110-EMA); Resistance: 181.08 (200-DMA)
ETH/USD pauses upside shy of 200-DMA, is extending downside for the 2nd straight session.
The pair was trading 0.70% lower at 165.88 at 06:15 GMT, after closing 4.20% lower in the previous session.
Price action has slipped below 5-DMA and technical indicators have turned neutral.
Oscillators are on verge of rollback from overbought levels and positive momentum is fading on the intraday charts.
5-DMA has turned flat and is capping upside at 168.05. The pair finds strong support at 110-EMA at 159.10.
Major trend is turning bullish as longer-term moving averages have turned higher. Minor trend is neutral.
Consolidation at current levels likely and break below 110-EMA will change near-term dynamics.
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