Ethereum Technical Analysis: ETH/USD death wish under $100 mark
|- Ethereum on Monday has taken a resumed beating, nursing losses of over 3% in the second half of the day.
- The longer ETH/USD trades under the $100 mark, the more danger that looms for the price.
- Price action has formed a bearish triangular pattern structure, which is vulnerable to another drop south.
ETH/USD 4-hour chart
Spot rate: 89.87
Relative change: -3.21%
High: 96.15
Low: 89.78
Trend: Bearish
Support 1: 87.96, lower part of wedge pattern.
Support 2: 83.75, daily pivot point support.
Support 3: 78.12, daily pivot point support.
Resistance 1: 97.94, upper part of wedge pattern.
Resistance 2: 100.07, daily pivot point resistance.
Resistance 3: 105.70, daily pivot point resistance.
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