Crypto Technicals: ETH/USD recovery lacks traction, upside capped at 5-DMA
Fri, 13 Dec 2019, 04:28 am UTC
ETH/USD chart - Trading View
Exchange - Coinbase
Support: 132.60 (Trendline); Resistance: 145.05 (5-DMA)
Technical Analysis: Bias bearish
ETH/USD struggles to extend previous session's gains, upside remains capped at 5-DMA.
Recovery in the pair lacks traction, technical indicators do not support gains for now.
The pair is trading rangebound below 5-DMA at 144.45, after closing 0.98% higher in the previous session.
Technical indicators are biased lower, momentum with the bears, RSI well below 50 mark. MACD in deep negative territory adds to the bearish bias.
The pair finds stiff resistance at 200H MA at 146.75. Break above will see a shift near-term bias.
Major trend however, still remains bearish. Resumption of weakness will see test of trendline support at 132.60. Violation there will open further downside.
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