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Crypto Technicals: ETH/USD fails at 110-EMA, scope for downside resumption

ETH/USD chart - Trading View 

Exchange - Coinbase

Support: 183.07 (21-EMA); Resistance: 192.09 (110-EMA)

Technical Analysis: Bias Neutral

ETH/USD has been rejected at 110-EMA, turned bearish to close 2.46% lower on Thursday's trade.

The pair is consolidating previous session's weakness and is currently rangebound at 186.76 at 05:00 GMT.

Cloud is immediate support at 185.56, break below daily cloud will see more weakness. Dip till 20-DMA at 180.80 likely.

That said, 'Bullish Divergence' keeps scope for upside. RSI holds above 50 mark and Stochs show bullish momentum.

The pair has bounced off 200H SMA which is also offering strong support at 184.97. Break below will support further downside.

On the flipside, breakout at 110-EMA will see test of 23.6% Fib at 202.23. Bullish continuation only above 200-DMA at 213.73.
 

By Anupama Grandhi
  • Market Data
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