ETH / USD currently undervalued and consolidated in a flag formation

• ETH / USD is currently priced at $ 187, while bears have topped bulls this Friday.
• The price has fallen below the Bollinger band to 20 days, which shows that ETH / USD is currently undervalued.

The bulls and bears of the ETH / USD continued their tug-of-war this Friday with the last one in the lead. The bears managed to deny the gains made by the bulls on Thursday. Currently, the price has gone from $ 188.33 to $ 187, recording a low of $ 178.40. The price breakdown of the hourly chart shows us that the price found support on the $ 181 line and then returned to $ 187.

Daily ETH / USD chart

The ETH / USD plummeted this Wednesday and broke below the simple 200-day moving average curve (SMA 200). In the process, he had a bearish breakout from the formation of the triangle and broke even under the 20-day Bollinger band. Currently, the bulls are trying to react within the Bollinger band to correct the price. The 20-day expansion of the Bollinger jaw suggests an increase in market volatility.