# Crypto Technicals: ETH/USD hovers around 5-DMA, overbought conditions may lead to further unwinding

By Anupama Grandhi

Canonical URL: https://www.tokenpost.com/news/investing/1907
Published: 2019-05-17T11:20:00.000Z
Updated: 2019-05-17T11:20:00.000Z
Section: Investing

> ETH/USD extends retrace from 8-month highs of 281

[ETH/USD](<https://www.tradingview.com/symbols/ETHUSD/>) chart - Trading View

Exchange - Coinbase

Support: 193 (21-EMA); Resistance: 300

Technical Analysis: Bias Bullish

ETH/USD extends retrace from 8-month highs of 281

The pair slumped over 12% on the day to hit lows of 224 before paring some losses to trade at 235 at 10:50 GMT

Price action is currently hovering around 5-DMA and close below will see further weakness

Further,  overbought conditions in oscillators supports further unwinding

Immediate support below 5-DMA lies at 38.2% Fib at 204.92. Further weakness will see test of 21-EMA at 193

For details on FxWirePro's Currency Strength Index, visit [http://www.fxwirepro.com/currencyindex](<http://www.fxwirepro.com/currencyindex>).

## Links in this article

- [ETH/USD](https://www.tradingview.com/symbols/ETHUSD/)
- [http://www.fxwirepro.com/currencyindex](http://www.fxwirepro.com/currencyindex)