Crypto Technicals: ETH/USD slips below 5-DMA, 'Golden Cross' to limit downside

ETH/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Neutral

GMMA Indicator: Major Trend - Bullish; Minor Trend - Neutral

Overbought/ Oversold Index: Overbought

Volatility: High

Support: 240.37 (50% Fib); Resistance: 265.05 (5-DMA)

ETH/USD was trading 3.45% lower on the day at 249.80 at around 10:35 GMT.

The pair is extending weakness for the 3rd straight session and has slipped below 5-DMA.

Stochs and RSI are on verge of rollover from overbought levels and are biased lower.

MACD is also on verge of a bearish crossover on signal line and Stochastics RSI is sharply lower.

Price action hovers around 200H MA ad decisive break below will see more weakness. Next major support aligns at 21-EMA at 226.33.

That said, 'Golden Cross' (bullish 50-DMA crossover on 200-DMA) will limit downside for the pair. Retrace above 5-DMA will see upside resumption.

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