Ethereum diverges bearish

PRICE ACTION
28D MA has crossed above the 13W MA; and in the process created a new local high @ just under $190. On the 4H chart, this movement has created a bearish divergence which has pivoted the overall position to bearish.

Bulls should be looking for a retest and support off the $170 range to help build a case that prices won’t return to test $120 again. The biggest concern is that price has significantly moved away from the averages; which are currently down below $150.

OPEN INTERESTS (BITFINEX)
Long: 2.98 Days
Short: 0.40 Days

RELATIVE STRENGTHS

• Micro (5m): Flat
  
• Short Term (4h): Bearish Divergence
  
• Mid Term (1D): Overbought
  
• Macro (1W): Hidden Bearish
  

ON BALANCE VOLUME

• Mid Term (1D): Flat
  
• Macro (1W): Lower
  

KEY PRICE AREAS
Resistance: 190, 195, 255
Support: 170, 155, 147 (28D MA)

PREVIOUS ANALYSIS

• 2019-04-07
• 2019-03-18
• 2019-03-16