Crypto Technicals: 'Shooting Star' dents upside in ETH/USD, 200H MA at 179.34 in sight

ETH/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Neutral to slightly bearish

Support: 179.34 (200H MA); Resistance: 197.07 (55W EMA)

ETH/USD was trading 1.18% lower on the day at 187.18 at around 05:15 GMT, after closing 0.60% higher in the previous session.

The pair looks set to retrace some of the recent gains, 200H MA at 179.34 looks to be the immediate bear target.

'Shooting Star' pattern on the daily charts has dented scope for upside in the pair. Bearish Divergence on RSI and Stochs adds to the downside bias.

Further 55W EMA is major resistance at 197.06. Any meaningful upside only on break above.

Major trend as shown by the GMMA is bullish. Minor trend has gone flat. Retrace below 200-DMA will open downside for the pair.

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