Ethereum Price Analysis: ETH falling below $100?

6 months ago

Technical Markers

Support Level – $103

Resistance Level – $107

  • Ethereum price was unable to break the $108 resistance level, with a bearish pattern.
  • There is a new bearish trendline formed with resistance around $107 on the hourly chart of ETH/USD.
  • Ethereum price can fall underneath the $100 level if there is a bearish break beneath $104.

Ethereum price is framing a bearish pattern. ETH/USD stays in danger of more troubles as long as it is unable to break the resistance around $107.

Ethereum Price Analysis

Ethereum price recovered a little yesterday over $104. ETH was unable to break the resistance level around $107 as a result Ethereum price fell below $106. The price is currently ensured by the support around $103 level.

ETHUSD Price Chart

There is a bearish trendline formed with resistance around $107 on the hourly chart. If Ethereum is able to break above the resistance around $107, the price may move towards the $110 and $112 levels. However, if there is a downside break underneath $103 support level, the price is probably going to fall below $100 very quickly.

Taking a look at the chart, ETH price is obviously under selling pressure underneath $107. If the selling pressure keeps on increasing, the price is probably going to fall underneath $103 to below $100.

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