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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 breaks below 200-DMA, hits 14-week lows at 181.60
ETH/USD chart - Trading View
Exchange - Coinbase
Support: 168 (trendline); Resistance: 189.05 (61.8% Fib)
Technical Analysis: Bias Bearish
ETH/USD has breached 200-DMA support, opening up further downside.
The pair hit 14-week lows at 178.26, technical bias is strongly bearish.
RSI is well below 50 levels and Stochs show momentum is strongly bearish.
MACD shows a bearish crossover on signal line and volatility is rising as shown by expanding Bollinger bands.
Negative DMI dominance seen and ADX is rising in support of the downtrend.
Price action has slipped below 61.8% Fib and is on track to test trendline support at 168.
200-DMA is now turned resistance at 194.97. Retrace above to extend consolidation.