Ethereum Price Analysis: ETH/USD deadly weekly evening star followed up with another bearish candle
|- Ethereum price is trading in the red by 3.30% in the session on Friday.
- ETH/USD is running towards a complete reversal of 2020 gains.
- The price has been falling for two consecutive weeks, with no sign of respite.
ETH/USD weekly chart
The next critical area of support is eyed down at the depressed levels of $140, where an ascending trend line can be observed.
ETH/USD daily chart
A daily zone of support should be noted at the range of $230 - 210. Failure to hold could prove to be punishing, in forcing the price back down to the noted $140 weekly support.
Spot rate: 230.78
Relative change: -3.30%
High: 234.70
Low: 213.86
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.