Ethereum Technical Analysis: ETH/USD critical trend line must hold or face $100 again
|- Ethereum price on Thursday was hammered, firmly in the red by some 6.8% in the second half of the day.
- ETH/USD bears are heading for a big retest of the critical trend line of support.
- If support noted above fails to hold, the price could back retesting the $100 mark.
Spot rate: 164.62
Relative change: -6.45%
High: 177.62
Low: 160.76
ETH/USD 60-minute chart
- Near-term hourly demand zone is currently preventing the price from a free-fall, around the $160 mark.
ETH/USD daily chart
- Bulls lost full control after losing ground and momentum as they tried to reclaim $0.4000.
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.