Crypto Technicals: ETH/USD comatose at 200-DMA resistance, breakout required for further gains

Crypto Technicals: ETH/USD comatose at 200-DMA resistance, breakout required for further gains

 

Monday, August 19, 2019 5:30 AM UTC ETH/USD chart – Trading View

Exchange – Coinbase

Support : 189.78 (5-DMA); Resistance : 196.70 (200-DMA)

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Technical Analysis: Intraday Bias Neutral, Major Trend Bearish

ETH/USD is trading extremely rangebound below 200-DMA which is offering stiff resistance.

The pair is consolidating previous session’s gains. Price action is holding break above 5-DMA (189.78).Major trend is bearish as indicated by GMMA and no major signs of reversal seen.Breakout at 200-DMA could take the pair higher to test 21-EMA at 206.88. Breakout above 55-EMA could see meaningful upside.Rejection at 200-DMA will see resumption of downside. Scope for test of trendline support at 167.25. Violation there to see 146 levels.