Crypto Technicals: ETH/USD trades below 200-DMA, more weakness on charts

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 192.69 (50-DMA); Resistance: 207.70 (200-DMA)

Technical Analysis: Bias Strongly Bearish

ETH/USD has broken below 200-DMA, bias is strongly bearish.

The pair is extending weakness for the 5th straight session. Volatility is rising

Technical indicators are sharply bearish. Stochs have rolled over from overbought levels and RSI is below 50.

Price action has slipped below 21-EMA to hit 8-day low at 194.52. Close below 21-EMA will see more weakness.

Next major support lies at 50-DMA at 192.69 ahead of 4H 200-SMA at 187.15.

200-DMA is now strong resistance at 207.70. Breakout above wil negate near-term bearish bias.

TokenPost | [email protected]