Ethereum Price Analysis: Will ETH fall below $100?

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Support Levels: $101, $100

Resistance Levels: $112, $114

 

Key Points

  • Ethereum price broke the key support at $110 and declined below.
  • The key resistance lies between $112 and $114
  • Ethereum price can have a short-term recovery but the key resistance is quite strong.

Ethereum price fell below the $110 support and ETH will most likely test the next key support between $101 and $100. If this key support is broken, the price can further decline below $100.

 

Ethereum Price Analysis

Ethereum price failed to recover above the resistance around $120 yesterday and declined below $110 support. Ethereum is currently trading around $111 (at the time of publishing) according to CoinGecko Charts. Ethereum price currently lies in a bearish zone due to the selling pressure.

In the last 24 hours, ETH traded as low as $106 but was able to recover back up to $114. However, the trend still remains bearish as the price is declining further after a massive selling pressure around $113. A new resistance is set between $112 and $114 which is a major hurdle for the price to recover.


 

In the 24 hour chart, ETH is facing huge selling pressure around the $113 resistance. ETH will most likely test the next key support at $101 and may even move below $100 range if the support proves to be weak.

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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