- ETH/USD bulls attempt a comeback following three straight bearish days.
- The Elliott Oscillator has had ten consecutive red sessions, indicating overall bearish dominance.
ETH/USD daily chart
ETH/USD went up from $228.71 to $229.65 in the early hours of Saturday. The price has been oscillating in the lower half of the 20-day Bollinger Band. Speaking of which, the 20-day Bollinger jaw has started widening, which shows that the price volatility is increasing considerably. The Elliott Oscillator has had ten straight red sessions, which shows overall bearish dominance. Finally, William’s %R is trending around -68.42 next to the oversold zone.
Support and Resistance
ETH/USD bulls must conquer three strong resistance levels at $237.58, SMA 20 and $248.95 to continue the upward movement. On the downside, there’s healthy support at $220.25, SMA 50 and $213.75.