Ethereum Price Analysis: ETH falling to $50?

6 months ago

Technical Indicators:

Support Level $102

Resistance Level – $110

Key Points:

  • ETH price fell beneath the $114 and $112 supports levels to move into a bearish zone against the US Dollar.
  • There is a noteworthy bearish pattern line framed with resistance at $110 on the hourly chart of ETH/USD.
  • The pair may address higher a couple of focuses, yet it liable to confront merchants close to the $112 or $114 level.

Ethereum price fell down sharply the US Dollar and bitcoin. ETH/USD is currently in a bearish zone and it could keep on moving down towards $102 support.

Ethereum Price Analysis

The Ethereum price failed to pick up momentum above $116 and $118 resistance levels. Subsequently, there was a bearish response underneath the $114 support. Ethereum broke the $112 support and fell well underneath the 100 hourly SMA. The bearish momentum led to the price falling beneath the $110 level.

ETHUSD Price Chart 28 January

Right now, Ethereum price is trading around $107, with a bearish trend. There is a noteworthy bearish pattern line formed with resistance close to $110 on the hourly chart.  Taking a gander at the chart, ETH price is unmistakably trading in a bearish zone underneath the $114 and $112 levels. In the event that there is an upside redress, Ethereum price is going to confront a lot of sellers between $110 and $114.

Janet F. Sanchez

Janet Sanchez writes articles which, considering where you’re reading this, makes perfect sense. She is best known for writing cryptocurrency related news and blogs. She also writes about business, finance, and technology. Working from home and taking care of her little son, she has a passion for writing.

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