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Ethereum Technical Analysis: ETH/USD's dip below $220 shows a clear shift in momentum

ETH/USD is clearly in a daily downtrend after yet another leg down today on June 15.
Ethereum doesn’t have a lot of support nearby and will need to hold $200.

Lorenzo Stroe Independent Analyst

After a negative weekend dropping to $229, Ethereum continued trading downwards today on June 15. The low of the day is at $218, but we could still see more downside action. The selling pressure is really strong and could take Ethereum down to $200 as there aren’t many support levels on the way down.

ETH/USD daily chart

Bears have clearly confirmed a daily downtrend for Ethereum after losing the last low and the daily 26-EMA at $228.98. The only real hope for the bulls would be to form a bullish reversal candlestick and climb above that 26-EMA. The MACD turned bearish on June 11 and it’s getting worse.

ETH/USD 4-hour chart

Not a lot of hope for buyers here. Ethereum has painted seven consecutive red candlesticks on the chart after getting rejected from the 26-EMA. The next support level is right where the bulls stopped 10 hours ago at $217.61. A loss of this level could mean ETH dropping to $200 as there isn’t a lot of support.

ETH/USD technical levels

ETH/USD

Overview
Today last price	222.4
Today Daily Change	-9.20
Today Daily Change %	-3.97
Today daily open	231.6

Trends
Daily SMA20	235.14
Daily SMA50	216.44
Daily SMA100	185.58
Daily SMA200	182.18

Levels
Previous Daily High	238.59
Previous Daily Low	229.91
Previous Weekly High	250.41
Previous Weekly Low	225.52
Previous Monthly High	247.15
Previous Monthly Low	176.19
Daily Fibonacci 38.2%	233.23
Daily Fibonacci 61.8%	235.28
Daily Pivot Point S1	228.14
Daily Pivot Point S2	224.68
Daily Pivot Point S3	219.45
Daily Pivot Point R1	236.83
Daily Pivot Point R2	242.05
Daily Pivot Point R3	245.51

Author

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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