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Crypto Technicals: ETH/USD struggles to extend gains, finds stiff resistance at 179

ETH/USD chart - Trading View 

Exchange - Coinbase

Support: 157.60 (trendline); Resistance: 179 (converged 21-EMA and 20-DMA)

Technical Analysis: Bias Bearish

ETH/USD is struggling to extend gains, trades 0.59% lower on the day at 174.46 at 05:45 GMT.

Major trend in the pair is bearish, recovery attempts lack traction.

Major trend is bearish. Price action is below cloud and major moving averages.

The pair has shown no signs of reversal. Finds major resistance at 179 (converged 21-EMA and 20-DMA).

Resumption of weakness will see test if trendline support at 158 levels. Violation at trendline will see major weakness.

Break above 179 will buoy bulls in ETH. Immediate resistance lies at 185.89 (55-EMA) ahead of 190.85 (Upper BB).
 

By Anupama Grandhi
  • Market Data
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