Crypto Technicals: ETH/USD extends choppy trade below 21-EMA, recovery capped at 200H MA

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 120.88 (Lower BB); Resistance: 132.11 (21-EMA)

Technical Analysis: Bias Bearish

ETH/USD was trading at 128.66, up 1.46% at 05:25 GMT, after closing 2.60% lower in the previous session.

The pair has been extending choppy trade below 21-EMA, recovery attempts remain capped below 200H MA.

Technical indicators support weakness. RSI below 50 and Stochs are biased lower. Stochastics RSI shows rollover from overbought levels.

Major trend has been bearish and resumption of weakness will see dip till lower BB at 120.88. Break below eyes 88.6% Fib at 112.96.

Immediate resistance is seen at 5-DMA at 129.11. Break above 21-EMA at 132.14 could change near-term dynamics.

TokenPost | info@tokenpost.com