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Ethereum Technical Analysis: ETH/USD’s dip below $220 shows a clear shift in momentum

  • ETH/USD is clearly in a daily downtrend after yet another leg down today on June 15.
  • Ethereum doesn’t have a lot of support nearby and will need to hold $200. 

After a negative weekend dropping to $229, Ethereum continued trading downwards today on June 15. The low of the day is at $218, but we could still see more downside action. The selling pressure is really strong and could take Ethereum down to $200 as there aren’t many support levels on the way down.

ETH/USD daily chart


Bears have clearly confirmed a daily downtrend for Ethereum after losing the last low and the daily 26-EMA at $228.98. The only real hope for the bulls would be to form a bullish reversal candlestick and climb above that 26-EMA. The MACD turned bearish on June 11 and it’s getting worse. 

ETH/USD 4-hour chart


Not a lot of hope for buyers here. Ethereum has painted seven consecutive red candlesticks on the chart after getting rejected from the 26-EMA. The next support level is right where the bulls stopped 10 hours ago at $217.61. A loss of this level could mean ETH dropping to $200 as there isn’t a lot of support. 

ETH/USD technical levels


Today last price222.4
Today Daily Change-9.20
Today Daily Change %-3.97
Today daily open231.6
Daily SMA20235.14
Daily SMA50216.44
Daily SMA100185.58
Daily SMA200182.18
Previous Daily High238.59
Previous Daily Low229.91
Previous Weekly High250.41
Previous Weekly Low225.52
Previous Monthly High247.15
Previous Monthly Low176.19
Daily Fibonacci 38.2%233.23
Daily Fibonacci 61.8%235.28
Daily Pivot Point S1228.14
Daily Pivot Point S2224.68
Daily Pivot Point S3219.45
Daily Pivot Point R1236.83
Daily Pivot Point R2242.05
Daily Pivot Point R3245.51
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