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- ETH / USD is around $ 90.00.
- Short-term technical indicators indicate further losses.
ETH / USD is changing hands at $ 90.60, having lost more than 1.5% in the last 24 hours. The third largest currency with a market capitalization of $ 9.5 milliard has moved in reverse with the global cryptocurrency market, consolidating in a narrow range after a sharp crash at the end of the previous week.
Technical framework of Ethereum
At the intraday level, ETH / USD is limited by SMA50 (1 hour) to $ 92.53. This barrier in quiet Asian trade limits the recovery. Once eliminated, the price will move to the next short-term goal created by SMA200 (1 hour) at $ 99.00 and $ 100.00 on a psychological level. A higher sustainable move will encourage buyers to push ETH / USD towards $ 107.38 (SMA100, 4 hours). However, a long hike seems unlikely considering the downward prejudice of the Relative Strength Index (RSI).
On the downside, immediate support comes to $ 89.00 (Monday's minimum). Once below, downward pressure could rise and push the price down to Saturday low at $ 84.72 and Friday low to $ 82.78. This area will trigger upward recovery. However, if it is canceled, $ 50.00 may come into focus.
ETH / USD, 1 hour chart
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