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Crypto Technicals: ETH/USD holds above 5-DMA, 'Golden Cross' on hourly charts keeps scope for upside

Mon, 09 Dec 2019, 07:47 am UTC

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 148.94 (5-DMA); Resistance: 154.63 (21-EMA)

Technical Analysis: Bias Neutral to slightly bullish

ETH/USD is trading slightly weaker on the day, but holds above 5-DMA support (148.94).

The pair was trading 0.81% lower on the day at 149.45 at 07:20 GMT, after closing 2.20% higher in the previous session.

Technical indicators on the intraday charts do not show a clear bias, volatility is also shrinking.

Major trend remains bearish. Volatility is low and shrinking. RSI is flat and below the 50 mark.

That said, price action has broken above 200H MA and a 'Golden Cross' on the hourly charts keeps scope for upside.

The pair is holding above 5-DMA and MACD is showing a bullish crossover on signal line.

21-EMA is strong resistance at 154.64. Break above will see test of 55-EMA at 166.54.

78.6% Fib is immediate support at 141.35, break below could see drag till 113 (88.6% Fib).

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