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Crypto Technicals: ETH/USD slips below 170 mark, on track to test trendline support at 158

Thursday, August 29, 2019 7:19 AM UTC

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 158 (Trendline); Resistance: 180.76 (5-DMA)

Technical Analysis: Bias Bearish

Ethereum resumes weakness below 200-DMA, eyes trendline support at 158 level.

The pair was trading 2.22% lower on the day at 168.75 at 07:15 GMT.

Technical studies are bearish. RSI well below 50 and momentum highly bearish.

MACD below zero, volatility is high and ADX is rising in support of the downtrend.

The pair is on track to test trendline support at 158 level. Retrace above 200-DMA (200.55) negates bearish bias.

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Crypto Technicals: ETH/USD slips below 170 mark, on track to test trendline support at 158

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