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Ethereum Price Analysis: Will ETH fall below $100?

Ethereum price fell below the $110 support and ETH will most likely test the next key support between $101 and $100. The price can decline below $100.
Ethereum price fell below the $110 support and ETH will most likely test the next key support between $101 and $100. The price can decline below $100.

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.

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Written by Joyce Lang

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