Crypto Technicals: ETH/USD halts upside with Doji formation, break below 5-DMA to see resumption of weakness

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 175.98 (5-DMA); Resistance: 185.49 (21-EMA)

Technical Analysis: Bias Bearish

ETH/USD trades rangebound on the day, at 178.93 at 06:10 GMT, with session high at 180.33 and low at 177.37.

'Doji' formation on the previous session's candle dents scope for upside in the pair.

Focus also on a potential 'Death Cross' (bearish 50-DMA crossover on 200-DMA), which, if completed, could add bearish pressure.

Major trend in the pair is bearish and upside was capped below 21-EMA resistance (185.49).

Retrace below 5-DMA will see resumption of weakness. Next major support lies at 156.65 (trendline).

On the flip side, 'Bullish Divergence' keeps scope for upside. Breakout at 20-DMA could see further gains.

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