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.
