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Ethereum – ETH Consolidates Below the 50-Day MA

Ethereum - ETHUSD
Ethereum - ETH

Ethereum ETH trades higher midday adding 1.16% at $183.28 keeping the short term neutral momentum which started three sessions ago. Ethereum stalled at the 50-day moving average since the rebound from the September 26th low at $153. Bears are still in control of the number two cryptocurrency after Ethereum breached the 50-day moving average. ETHUSD has gained 20% since the $153 lows.

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Ethereum Technical Analysis

On the downside, first support for Ethereum stands at 180.67 daily low, below this level next support stands at $169.00 the low from October 7th, while more bids might await at the lows seen on September 26th at $153.

On the upside, immediate resistance for Ethereum now stands at 184.27 today’s high, while more selling pressure will be met at $202.18 at the 100-day moving average. A convincing close above that level will open the way for a visit to the 200-day moving average at $211.78.

Ethereum market capitalisation today stands at 19.88 billion with the trading volume today reaching 7.09 billion. Bitcoin also trades higher today at 8,283 with a market cap at 149.75 billion and Litecoin – LTC trades at 56.70 with a market cap at 3.61 billion. The 100 biggest cryptocurrencies market capitalization now stands at 225.43 billion.

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