Crypto Technicals: ETH/USD struggles to extend gains beyond $200 mark, bias bearish below 200-DMA

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 171 (Aug 15 low); Resistance: 197.58 (200-DMA)

Technical Analysis: Bias Bearish

ETH/USD extends weakness for the 2nd straight session, bias turning bearish.

The pair has failed to extend gains above $200 mark, slips lower.

Major trend is bearish as shown by GMMA indicator. Parabolic SAR also supports weakness.

Price has slipped below 200-DMA and 200 SMA on the hourly charts. Hovers around 61.8% Fib.

RSI and Stochs are now biased lower. Volatility rising on the intraday charts.

Break below 61.8% Fib (189.05) will see dip till 171 (Aug 15 low) ahead of 165.75 (trendline).

200-DMA is now major resistance at 197.58. Retrace above will see further consolidation.

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