Crypto Technicals: ETH/USD struggles to extend recovery, finds stiff resistance at 200H MA at 149.77
Fri, 06 Dec 2019, 07:25 am UTC
ETH/USD chart - Trading View
Exchange - Coinbase
Support: 141.35 (61.8 Fib); Resistance: 149.77 (200H MA)
Technical Analysis: Bias Bearish
ETH/USD has paused recovery and was trading marginally lower at 147.56 at 07:00 GMT.
Recovery attempts in the pair were capped at 200H MA, and the pair was trading rangebound around 5-DMA.
Technical indicators on the intraday charts have gone directionless, volatility is also shrinking.
That said, major trend remains bearish. MACD is well in the negative territory. RSI converges with price action, supporting bearish bias.
78.6% Fib is immediate support at 141.35, break below could see drag till 113 (88.6% Fib).
Decisive close above 5-DMA (147.56) will see next hurdle at 200H MA at 149.77. Decisive break above 200H MA to see more upside.
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