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…

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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.

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Etheruem Price Chart:

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

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EXPECTATION: Breakout

TREND AFTER EXPECTATION: More downside

PREV: 0.17657

OPEN: 0.17652

VOLUME: 66.318M

DAY’S RANGE: 0.17211 — 0.17760

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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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