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Ethereum $13 on Coinbase today: ETH Price analysis

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Ethereum price went down to around $13 earlier today on coinbase on the ETH/USDC pairing. At around 05:00 UTC, ethereum price crashed up to $13 on Coinbase, one of the largest exchanges in the world. Ethereum has been experiencing a downfall from the mid of the year when it was trading above $800 to today when it is trading around $100.

ETH USDC Coinbase Price Chart
ETH USDC Coinbase Price Chart

Ethereum Price Analysis

Support Levels: $100, $95

Resistance Level: $105

  • Ethereum price seems to be moving towards double digits while testing the key support at $100
  • A major bear trend line is set at a resistance near $105.
  • If the selling pressure remains high, Ethereum will likely fall below $100 range today.


 

As predicted yesterday, Ethereum is testing the $100 support. Once the support of $100 is broken, the next support lies at $95 and the price can ever fall below this range in short term.

In the 1 hour chart, a major bear trend line is set at resistance near $105 which shall lead to a significant downfall in the price of ethereum. With a massive pressure, Ethereum will likely fall below $100 and is set for further losses.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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