Ethereum Technical Analysis – 06 September 2022
06 Sep 2022
Ethereum Technical Analysis: Weekly Chart
In the weekly charts, Ethereum is trading in a down channel. Ethereum is currently trading below all SMA except MA(5).
RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.
Its immediate support is 1550.00 & the resistance level is at 1700.00
Ethereum will trade in a down channel until there is a trend reversal.
Ethereum Technical Analysis: Daily Chart
In the daily charts, Ethereum is trading in a down channel. Ethereum is currently trading above all SMA.
RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.
Its immediate support is 1620.00 & the resistance level is at 1680.00
Ethereum will trade in a down channel until there is a trend reversal.
How to Trade Ethereum this Week:
Ethereum will follow the downtrend until its trend reversal. So, remain bearish on Ethereum