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.
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.
