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Crypto Technicals: ETH/USD edges lower from 8-month highs, potential 'Shooting Star' keeps scope for weakness

Thu, 16 May 2019, 11:00 am UTC

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 220 (5-DMA) ; Resistance: 300

Technical Analysis: Bias Bullish

ETH/USD is trading largely unchanged at 248 at 10:45 GMT

The pair has edged lower from 8-month highs at 274, scope for correction

A potential 'Shooting Star' formation seen on the daily charts, adds to bearish signals

Price action has edged above Upper Bollinger Band and Oscillators are at overbought levels

Immediate support lies at 5-DMA at 219. Break below will see drag lower

Breakout above 300 mark could see further upside.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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Comment 0

Comment tips

Great article. Requesting a follow-up. Excellent analysis.

0/1000

Comment tips

Great article. Requesting a follow-up. Excellent analysis.
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