# Crypto Technicals: ETH/USD holds 5-DMA support (222.53), bearish divergence on hourly charts could trigger more downside

By Anupama Grandhi

Canonical URL: https://www.tokenpost.com/news/investing/5064
Published: 2020-02-10T06:00:35.000Z
Updated: 2020-02-10T06:00:35.000Z
Section: Investing

> GMMA Indicator: Major Trend - Bullish; Minor Trend - Bullish

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

Exchange - Coinbase

Technical Analysis: Bullish

GMMA Indicator: Major Trend - Bullish; Minor Trend - Bullish

Overbought/ Oversold Index: Highly overbought

Volatility: High and rising

Support: 222.72 (5-DMA); Resistance: 40.37 (50% Fib)

ETH/USD trades 1.85% lower at 224.47 at around 05:40 GMT, after closing 2.43% higher in the previous session.

The pair has paused its bullish streak and overbought oscillators raise scope for further weakness.

Price action is holding support at 5-DMA at 222.44. Break below to see more downside.

Further, bearish divergence on RSI and Stochastics on the hourly charts adds to the bearish pressure.

Break below 5-DMA could see dip till 200H MA at 205.58. Breach at 200H MA finds next major support at 21-EMA at 193.20.

Major and minor trend remains bullish. Resumption of upside will see test of 61.8% Fib at 269.66.

[TokenPost](<https://www.tokenpost.com/>) | info@tokenpost.com



## Links in this article

- [ETH/USD](https://www.tradingview.com/symbols/ETHUSD/)
- [TokenPost](https://www.tokenpost.com)