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Crypto Technicals: ETH/USD extends 21-EMA breakout, pauses shy of 55-EMA, bias bullish

ETH/USD chart - Trading View 

Exchange - Coinbase

Support: 187.06 (5-DMA); Resistance: 197.31 (55-EMA)

Technical Analysis: Bias Bullish

ETH/USD extends 21-EMA breakout, intraday bias is bullish.

The pair was trading 2.65% higher on the day at 194.32 at 05:00 GMT.

Upside has paused shy of 55-EMA resistance at 197.31, break above will see further gains.

Technical studies support further gains. Stochs and RSI are sharply higher. MACD and ADX support upside.

'Bullish Divergence' on RSI and Stochs adds to the bullish bias. The pair has broken above 4H 200 SMA for the first time since July.

197.30 - 198.20 is stiff resistance zone, breakout will find next major resistance at 200-DMA at 204.60.

5-DMA is immediate support at 187.06. Break below 21-EMA (183.90) negates near-term bearishness.
 

By Anupama Grandhi
  • Market Data
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