• ETH/USD has recovered from the intraday low, but the upside momentum is weak.
  • The critical support is created by the trend line on approach $193.00.

ETH/USD touched the intraday low at $195.17 and recovered to $199.50 by press time. The second-largest digital asset attempted a recovery above $219 on Sunday, May 3, and has been trading with bearish bias ever since.  ETH/USD has lost over 6% in recent 24 hours and 4.5% since the beginning of Monday. 

Currently, 35% of Ethereum addresses are in the money. About 1.63 million addresses holding 3.36 million ETH have their breakeven point in the range from $202 to $216. Once this area is cleared, the upside momentum may gain traction with the next focus on the recent high at $227.36.

ETH/USD: Technical picture  

On the intraday charts, ETH/USD needs to regain ground above $206.00 area to improve the short-term technical picture. This resistance is reinforced by 1-hour SMA200 ($205.70). Once it is out of the way, the upside is likely to gain traction with the next focus on $210.00 with 1-hour SMA50 and SMA100 located around this psychological barrier. A sustainable move above this area is needed to get the recovery back on track and open the way to $220.00, followed by the above-said high at $227.36.

On the downside, a sell-off to $195.300-$195.00 will increase the short-term bearish pressure. The lower line of the 1-hour Bollinger Band at $195.30 may slow down the bears, however, if this support area is cleared, ETH/USD will go down to the upside-looking trend line from March 13 low. This is a pivotal level that separates the downside correction from the resumed bearish trend. This line is closely followed by psychological $190.00 and daily SMA100 that may serve as an additional backstop and trigger the recovery.

ETH/USD 1-hour chart


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin recovers above $85,000 while institutional investors offload their holdings

Bitcoin recovers above $85,000 while institutional investors offload their holdings

Bitcoin (BTC) recovers slightly and trades around $86,000 at the time of writing on Thursday after falling nearly 15% at one point this week. US President Donald Trump’s ongoing tariff news and falling institutional demand fueled the BTC’s correction.

More Bitcoin News
ONDO Finance partners with Mastercard: Tokenized Real-World Assets to Multi-Token Network

ONDO Finance partners with Mastercard: Tokenized Real-World Assets to Multi-Token Network

Ondo Finance announces a partnership with Mastercard to bring tokenized Real-World Assets to Mastercard’s Multi-Token Network.. This integration will bring Ondo’s OUSG token to MTN, enabling businesses to access the benefits of tokenized treasuries seamlessly.

More Ondo News
Solana Price Forecast: DTCC lists first SOL futures ETF, will it avert $130 breakdown?

Solana Price Forecast: DTCC lists first SOL futures ETF, will it avert $130 breakdown?

Solana price edges higher and trades near $140 at the time of writing on Thursday after tumbling from $172 to $134 this week as FTX estate’s impending token unlock looms ahead despite early gains from a new SOL Exchange Traded Fund listing.

More Solana News
XRP remains in murky waters as SEC drags feet in dismissing its case against Ripple

XRP remains in murky waters as SEC drags feet in dismissing its case against Ripple

XRP has witnessed heavy losses since the beginning of the week, dropping nearly 15% as the crypto market stretches its losses. Ripple community members continue to expect an end to the SEC's multi-year lawsuit as the agency closes another investigation.

More Ripple News
Bitcoin: BTC demand and liquidity conditions remain weak

Bitcoin: BTC demand and liquidity conditions remain weak

Bitcoin price has been consolidating between $94,000 and $100,000 since early February, hovering around $98,000 at the time of writing on Friday. Despite this consolidation, US Bitcoin spot ETFs data recorded a total net outflow of $489.60 million until Thursday, hinting signs of weakness among institutional investors. 

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP