Crypto Technicals: ETH/USD recovery capped below 21-EMA, scope for weakness till 200-DMA (194.27)

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 194.27 (200-DMA); Resistance: 216.75 (20-DMA)

Technical Analysis: Bias Bearish

ETH/USD extends range trade, with session high at 211.28 and low at 207.76

The pair finds stiff resistance at 20-DMA (216.75). Recovery attempts capped below 20-DMA.

Oscillators show bearish momentum. RSI well below 50 mark, bias lower.

Parabolic SAR shows weakness in the pair. Both short and long term averages in GMMA are biased lower.

Scope for test of 200-DMA at 194.27. Breach at 200-DMA will open up downside.

Immediate resistance is seen at 20-DMA at 216.75. Break above 55-EMA (233.90) negates near-term bearish bias.

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