Crypto Technicals: ETH/USD erases early gains, retrace below 200H MA dents upside scope

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 130.99 (200H MA); Resistance: 138.99 (21-EMA)

Technical Analysis: Bias Neutral

ETH/USD erases early gains, the pair slips from session highs at 135.24, major bias remains bearish.

The pair was trading at 132.40 at 06:30 GMT, largely muted at the time of writing.

Major trend is bearish and retrace below 200H MA will negate any upside bias.

Technical indicators have moved away from the bearish bias, are currently neutral.

RSI remains flat below 50 mark. Stochs have rolled over from oversold levels and are biased higher.

The pair is struggling to extend gains. Breakout above 21-EMA will support upside.

Immediate support is seen at 200H MA at 130.93. Break below negates upside bias. Close below 5-DMA will see downside resumption.

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