Crypto Technicals: ETH/USD struggles to extend recovery above 5-DMA, bias bearish

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 193.81 (200-DMA); Resistance: 221.47 (21-EMA)

Technical Analysis: Bias Bearish

ETH/USD struggles to extend upside momentum, slips lower from session highs at 216.47.

The pair was trading 1.43% lower on the day at 212.97 at 05:40 GMT.

Major trend has shifted to bearish as indicated by GMMA which shows turn in longer-term moving averages.

Downside in the pair has held above $200 mark, breach below will find major support at 200-DMA at 193.81

Violation at 200-DMA could open up downside for the pair. Break above 55-EMA (234.90) negates near-term bearish bias.

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