Crypto Technicals: 'Death Cross' and 21-EMA resistance keeps downside pressure on ETH/USD

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 176.14 (5-DMA); Resistance: 198.21 (50-DMA)

Technical Analysis: Bias Bearish

ETH/USD fails at 21-EMA resistance, trades 2.04% lower at 177.86 at 06:35 GMT.

'Death Cross' (bearish 50-DMA crossover on 200-DMA) keeps downside pressure.

The pair has broken below 55H EMA and is on track to test 200H SMA at 175.48.

Technical indicators are biased lower. Major trend in the pair is bearish according to GMMA indicator.

5-DMA is immediate support. Break below will see weakness till 153.50 (trendline).

On the flipside, 'bullish divergence' on RSI and Stochs on the daily charts raises scope for upside.

Break above 21-EMA (181.85) could see further gains. Next major resistance lies at 50-DMA at 198.21.

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