Blockchain Revolution Series: Ernst & Young Features In Top-3 Enterprises Blockchain Solution Provider
Regulatory Series on Cryptocurrencies: FCA Issues UK’s Crypto-Businesses Cutoff Date For Obtaining Licence
Digital Currency Revolution Series: Bitcoin Bulls Drift In Sideways After Bullish Engulfing – Uphold Long Hedges
Blockchain Revolution Series: India’s Leading IT Giant TCS Launches Quartz Smart Solution For Cryptocurrency Trading
Digital Currency Revolution Series: Bitcoin Snapping Rallies But Unwise Build Fresh Shorts, Uphold Long Hedging
Digital Currency Revolution Series: Travala.com Partners With Expedia Group For Cryptocurrency-Based Travel Booking
Digital Currency Revolution Series: Take A Look On Buzzing Crypto-Space Amid Flurry of Fundamental Events
Crypto Technicals: 'Spinning Top' fails to deter bears in ETH/USD, pair on track to test trendline at 133.50
ETH/USD chart - Trading View
Exchange - Coinbase
Support: 133.50 (Trendline); Resistance: 142.84 (5-DMA)
Technical Analysis: Bias Bearish
ETH/USD is extending weakness on the day, bears largely ignore 'Spinning Top' formation on the previous day's candle.
The pair was trading 1.05% lower at 140.88 at 08:50 GMT, after closing 0.46% higher in the previous session.
Upside remains capped at 5-DMA, technical indicators are biased lower, momentum with the bears.
Stochs are sharply lower, RSI is well below 50 mark. MACD in deep negative territory adds to the bearish bias.
Bearish technical indicators with rising volatility to plummet prices. Dip till trendline support at 133.50 likely.
Stiff resistance lies at at 200H MA at 145. Break above will see a shift near-term dynamics.