ETH/USD chart - Trading View
Exchange - Coinbase
Support: 167.50 (Oct 6 low); Resistance: 179 (converged 5 and 20 DMAs)
Technical Analysis: Bias Bearish
ETH/USD is set to resume weakness after previous session's slump, technical bias bearish.
The pair was trading 0.62% lower on the day at 173.42 after closing 3.37% lower on Wednesday's trade.
Price action has broken below 20-DMA support and is now on track to test Oct 6th lows at 167.50.
Major trend has been bearish, minor trend has also shifted to bearish as indicated by turn in short-term MA on GMMA indicator.
Bullish divergence could limit downside. Also Stochastics oscillator on weekly charts has approached oversold zone.
Next major support below 167.50 (Oct 6 low) lies at 158 (trendline). Breach below trendline support will see test of 78.6% Fib at 141.35.
Strong resistance is seen at 179 (converged 5 and 20 DMAs). Bearish invalidation only above 200-DMA.


BTC/USD Coils Ahead of CPI & BOJ: Buy Dips at $85K Targeting $100K Breakout
FxWirePro: EUR/NZD edges lower but bullish outlook persists
FxWirePro: GBP/USD recovers slightly from early decline ahead of Bank of England’s interest rate decision
FxWirePro: GBP/NZD remains bullish as rally continues
AUD/JPY Stalls Ahead of BOJ Decision: Sell on Rallies as Bearish Bias Holds Below 103.70
ETH/USD Clings Below $3000 in BTC's Shadow: Buy Deep Dips at $2700 Targeting $4000 Breakout
FxWirePro: EUR/AUD uptrend loses steam, remains on bullish path
FxWirePro: NZD/USD sidelined ahead Of key New Zealand GDP and US inflation update 



