- Ethereum price has flipped the 20-day SMA from support to resistance.
- The MACD shows increasing bearish momentum.
Between March 25 and April 15, the Ethereum price jumped from $1,570 to $2,500, gaining almost $1,000 in overall valuation. During this upward surge, ETH managed to flip the 20-day and 50-day SMAs from resistance to support. However, the bears have now taken full control.
Ethereum Price Had Five Straight Red Candlesticks
Since April 16, the bears have taken full control of the market for five straight days, wherein it dropped to $2,100, losing $400 in overall valuation. During this downward surge, the Ethereum price flashed the following sell signals:
- The 20-day SMA has flipped from support to resistance.
- The MACD shows increasing bearish market momentum.
- The parabolic SAR has flipped from positive to negative.
Image: ETH/USD daily
On the upside, the Ethereum price faces a strong resistance barrier at $2.250 wherein 145,000 addresses had purchased a little less than 8.5 million ETH tokens.
Ethereum Price Is Expected To Reach These Levels
The buyers will need to push the Ethereum price above the 20-day SMA and conquer the $2,250 resistance barrier to continue its upward surge.