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Crypto Technicals: ETH/USD recovery capped at 200H MA, break below 78.6% Fib (141.35) to knock prices lower

Thu, 05 Dec 2019, 04:43 am UTC

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 141.35 (78.6% Fib); Resistance: 147.48 (5-DMA)

Technical Analysis: Bias Bearish

ETH/USD trades marginally lower on the day, momentum remains bearish.

Recovery attempts in the pair were capped at 200H MA, scope for further weakness.

The pair was trading at 144.66 at 04:35 GMT, after closing 1.24% lower in the previous session.

Technical indicators support further downside. Stochs, RSI and 5-DMA are biased lower with room to fall further.

MACD is well in the negative territory and ADX also supports weakness with -ve DMI dominance.

Break below 78.6% Fib support (141.35) finds next support at 130.16 (lower BB). Break below will see dip till 113 (88.6% Fib).

5-DMA is immediate resistance at 147.48. Decisive break above 200H MA to see some upside.

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