Ethereum Price Forecast: ETH/USD bears take control as the price consolidates in the pennant formation

  • ETH/USD bears have remained in control for the second straight day after failing at the $246.15 resistance level.
  • William’s %R has crept under the overbought zone, showing that the asset is no longer overvalued.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD bears stayed in control for the second straight day as the price fell from $237.65 to $237.15. The price has support at the upward trending line as it continues to trend inside the pennant formation and the 20-day Bollinger Band. The MACD shows decreasing bullish momentum, while William’s %R has crept under the overbought zone, indicating that the asset is no longer overvalued.

Support and Resistance

ETH/USD bulls face resistance at the $246.15 line. If they do overcome it, the price will be trending above the 20-day Bollinger Band. On the downside, the price has found healthy support at $228.25, $215.75, SMA 20 and SMA 50.

Key levels

ETH/USD

OVERVIEW
Today last price 235.97
Today Daily Change -1.68
Today Daily Change % -0.71
Today daily open 237.65
TRENDS
Daily SMA20 213.64
Daily SMA50 200.93
Daily SMA100 184.48
Daily SMA200 177.59
LEVELS
Previous Daily High 253.48
Previous Daily Low 224.48
Previous Weekly High 224.81
Previous Weekly Low 196.65
Previous Monthly High 247.15
Previous Monthly Low 176.19
Daily Fibonacci 38.2% 235.56
Daily Fibonacci 61.8% 242.4
Daily Pivot Point S1 223.59
Daily Pivot Point S2 209.54
Daily Pivot Point S3 194.59
Daily Pivot Point R1 252.6
Daily Pivot Point R2 267.54
Daily Pivot Point R3 281.6

 



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