Crypto Technicals: ETH/USD extends weakness for the 2nd straight session, slips below 200H SMA, bias bearish

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 163.57 (Aug 29 low); Resistance: 182.32 (21-EMA)

Technical Analysis: Bias Bearish

ETH/USD resumes weakness after rejection at cloud and 21-EMA resistance.

The pair is extending downside for the 2nd straight session, bias is bearish.

Stochs and RSI are biased lower, price action has slipped below 5-DMA.

Major trend is bearish as confirmed by GMMA indicator, breach at 200H SMA confirms near-term bearishness.

MACD is in the negative territory and volatility is rising. Negative DMI dominance adds to the bearish bias.

Scope for downside resumption. Next major support lies at 152.11 (Sept 26 low) ahead of 141.35 (78.6% Fib).

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