ETH/USD chart - Trading View
Exchange - Coinbase
Support: 175.98 (5-DMA); Resistance: 185.49 (21-EMA)
Technical Analysis: Bias Bearish
ETH/USD trades rangebound on the day, at 178.93 at 06:10 GMT, with session high at 180.33 and low at 177.37.
'Doji' formation on the previous session's candle dents scope for upside in the pair.
Focus also on the potential 'Death Cross' (bearish 50-DMA crossover on 200-DMA) which if completed could add bearish pressure.
Major trend in the pair is bearish and upside was capped below 21-EMA resistance (185.49).
Retrace below 5-DMA will see resumption of weakness. Next major support lies at 156.65 (trendline).
On the flip side, 'Bullish Divergence' keeps scope for upside. Breakout at 20-DMA could see further gains.
