Ethereum Price Analysis ETH / USD: Landing With A Parachute

  • Ethereum has a neutral short-term trading bias, with the ETH / USD pair approaching its 200-period moving average on the four-hour time frame
  • The four-hour time frame is currently showing a valid head and shoulders pattern
  • The ETH / USD pair has now moved below key neckline support on the daily time frame

Ethereum / USD Short-term price analysis

Ethereum has a neutral short-term trading bias, with the cryptocurrency falling back towards its 200-period moving average on the four-hour time frame.

The four-hour time frame shows that a head and shoulders pattern has now formed, with the ETH / USD pair trading close to the neckline of the bearish pattern.

Technical indicators across the four-hour time frame have turned bearish and continue to issue sell signals.

ETH / USD H4 Chart by TradingView

Pattern Watch

Traders should note that a bearish head and shoulders pattern has a downside projection of around $40.00.

Relative Strength Index

The RSI indicator on the four-hour time frame remains bearish, although it has now reached oversold conditions.

MACD Indicator

The MACD indicator on the four-hour time frame is bearish and continues to issue a sell signal.


Ethereum / USD Medium-term price analysis

Ethereum still has a bullish medium-term trading outlook, with the ETH / USD pair still holding well above its trend defining 200-day moving average.

The daily time frame is showing that ETH / USD pair is now trading below the neckline of the large inverted head and shoulders pattern. Major technical support on the mentioned time frame is currently located at the $230.00 and $205.00 levels.

Technical indicators on the daily time frame have now turned bearish and are generating a strong sell signal.

ETH Daily Chart June 5, powered by Trading ViewETH / USD Daily Chart by TradingView

Pattern Watch

Traders should note that sellers will need to move the ETH / USD pair below the $100.00 level to invalidate the bullish inverted head and shoulders pattern on the daily time frame.

Relative Strength Index

The RSI…

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