Ethereum slid by over 2% from trading around the major resistance ($190) at $189.27 at the onset of November 11, 2019. The short-term moving average of ETH coin indicates the selling pressure that the coin withholds at present. Currently has grounded support at 20-day EMA and 20-day SMA.
Ethereum Price Analysis
As observed from the above chart by Coinbase, we see that the coin had a relaxing stride initially, with a few bumps faced around 6:00 UTC. ETH/USD slid first slid from $189 to $187, followed by $185 and $184–forming the lowest of the said time frame. However, it currently trades at $186.22, which has grounded support from 5-day SMA at $186.21 followed by a 50-day moving average. Towards the recent trading zone, Ethereum rose by 0.87% to trade around the current price area.
The MACD of ETH is finely inclined at zero with a bearish outlook as the coin reflects bearish run in the upcoming days, and the recent hike is just embraced as a mirage.
The RSI of the coin is at 52.16, showing no extremities at present.
