ETH/USD chart - Trading View
Exchange - Coinbase
Support: 239.64 (236% Fib); Resistance: 255.55 (20-DMA)
Technical Analysis: Bias Neutral to Slightly Bearish
ETH/USD grinds sideways at 1H 55-EMA resistance, downside supported at 1H 50-SMA.
RSI and Stochs are flat-lined on the hourly charts, intraday bias is neutral.
Price action has bounced off lower BB and is hovering around 21-EMA.
Technical analysis supports downside. Doji formation on previous weeks' candle limits upside.
Bearish 5-DMA crossover on 20-DMA, 'Bearish Divergence' on RSI and stochs keeps bias lower.
Volatility is shrinking on the daily charts, scope for further consolidation.
Break below 23.6% Fib eyes 55-EMA at 215.45. Retrace above 20-DMA could see further gains.
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