Ethereum technical analysis: ETH/USD critical ascending trend line retest
|- Ethereum price is trading in the red, down over 2.5% the second part of the session on Tuesday.
- ETH/USD bears are testing a critical ascending trend line of support.
- The price is remains stuck within a bearish trend, following a strong May-June.
Spot rate: 211.50
Relative change: -2.60%
High: 217.29
Low: 208.47
ETH/USD 60-minute chart
- Since the bears forced a critical near-term ascending trend line breakout via the 60-minute, ETH/USD has been sucked within a descending channel to the south.
ETH/USD daily chart
- Big trend line test is being seen by the bears, a breach could invite another strong wave of selling.
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.