Ethereum Price Analysis: ETH/USD at risk of free fall with $200 the next major daily support
|- Ethereum price is trading in the green by 3.30% in the session on Thursday.
- ETH/USD next major target to the downside is eyed at the psychological $200.
- The price is undergoing its worst run of losses since November 2019.
ETH/USD daily chart
The price is attempting to stage a rebound following three consecutive heavy sessions of losses in the red, another potentially eyed.
ETH/USD 60-minute chart
Near-term consolidation within a bearish flag is subject to a breakout south, which would invite a fresh strong wave of downside pressure.
Spot rate: 230.78
Relative change: +3.30%
High: 232.19
Low: 210.57
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