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Crypto Technicals: ETH/USD retreats from 6-week highs at 217.49, close below 200-DMA to see further weakness
Crypto Technicals: ETH/USD comatose at 200-DMA resistance, breakout required for further gains
ETH/USD chart - Trading View
Exchange - Coinbase
Support: 189.78 (5-DMA); Resistance: 196.70 (200-DMA)
Technical Analysis: Intraday Bias Neutral, Major Trend Bearish
ETH/USD is trading extremely rangebound below 200-DMA which is offering stiff resistance.
The pair is consolidating previous session's gains. Price action is holding break above 5-DMA (189.78).
Major trend is bearish as indicated by GMMA and no major signs of reversal seen.
Breakout at 200-DMA could take the pair higher to test 21-EMA at 206.88. Breakout above 55-EMA could see meaningful upside.
Rejection at 200-DMA will see resumption of downside. Scope for test of trendline support at 167.25. Violation there to see 146 levels.