Ethereum Price Analysis: Showing Bearish Outlook Below 228 USD

etheruem
ETHUSD chart by TradingView

Ethereum Price Analysis: Showing Bearish Outlook Below 228 USD

ETHUSD Is showing an overall bearish outlook currently below the important 200 and 100 EMA and with a bearish breakdown confirmed heavily to the downside which can continue when the bears hold this pace. Also ETHUSD is building a huge triangle formation which is a descending triangle that can break heavily to the downside when confirmed and showing the next steps in bearish continuation.

Etheruem Price Chart:

etheruem
ETHUSD chart by TradingView

The RSI is sending moderate signs at the moment with more possible breakdowns to the downside and a touch of the oversold region possible which confirms below the 20 value.

The MACD sending an important sign which is a bearish crossover to the downside which is a serious sign in the MACD that is signaling the trend change to overall bearishness.

TREND: Downside

FORMATION: Descending triangle

EXPECTATION: Breakout

TREND AFTER EXPECTATION: More downside

PREV: 0.17657

OPEN: 0.17652

VOLUME: 66.318M

DAY’S RANGE: 0.17211 — 0.17760

Summary
Ethereum Price Analysis: Showing Bearish Outlook Below 228 USD
Article Name
Ethereum Price Analysis: Showing Bearish Outlook Below 228 USD
Description
ETHUSD Is showing an overall bearish outlook currently below the important 200 and 100 EMA and with a bearish breakdown confirmed heavily to the downside which can continue when the bears hold this pace.
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CoinGape
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Author: Vince Prince
Vince is an experienced trader, investor and financial analyst within the markets in which he concentrates on the cryptocurrencies and decent opportunities within them to trade in a professional oriented manner. You can follow him at trading view market insight at: https://www.tradingview.com/u/VincePrince/ Or you can join his telegram channel: https://t.me/vinceprince_channel
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Vince Prince 16 Articles
Vince is an experienced trader, investor and financial analyst within the markets in which he concentrates on the cryptocurrencies and decent opportunities within them to trade in a professional oriented manner. You can follow him at trading view market insight at: https://www.tradingview.com/u/VincePrince/ Or you can join his telegram channel: https://t.me/vinceprince_channel
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