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Crypto Technicals: ETH/USD struggles at 21W EMA, likely to extend sideways grind

ETH/USD chart - Trading View 

Exchange - Coinbase

Support: 182.69 (20-DMA); Resistance: 193.88 (21W EMA)

Technical Analysis: Bias Neutral

ETH/USD was trading at 187.51 at 06:15 GMT, down 0.73% at the time of writing after closing 2.22% higher in the previous session.

The pair finds stiff resistance at 21W EMA and scope for upside only on break above.

Price action has failed multiple attempts to break above 21W EMA. Bias remains neutral.

The pair is likely to extend sideways grind for now. Upside remains capped at 110-EMA on the daily charts.

Immediate support aligns at 200H SMA at 186.10. Break below 21-EMA at 83.84 could see minor near-term weakness.

Breakout above 21W EMA (193.88) will confirm bullish bias. Next bull target lies at 23.6% Fib at 202.23 ahead of 200-DMA at 214.08.
 

By Anupama Grandhi
  • Market Data
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