ETH/USD bears take control after encountering resistance at the SMA 200

  • ETH/USD went down from $173.45 to $169.91 this Thursday.
  • The Elliott Oscillator has had 25 straight green sessions and gone up from -98.56 to 25.25.

ETH/USD daily chart

ETH/USD had a second straight bearish day after encountering resistance at the SMA 200 curve. The asset has dropped from $169.91 to $169.50 so far this Friday. If they maintain their current course, the SMA 200 will soon cross above the SMA 50 to chart the heavily bearish death cross pattern. The MACD indicates decreasing bullish momentum, while the Elliott Oscillator has had 25 consecutive green sessions, having gone up from -98.56 to 25.25.

Key levels

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