Ethereum Technical Analysis: ETH/USD moving within an ascending channel, vulnerabilities remain to the downside
|- Ethereum (ETH) was seen nursing nominal losses of just 0.7% in the late part of Wednesday's session.
- ETH/USD upside being restricted by descending trend line. Price is also moving within a rising channel, subject to a potential breakout south.
ETH/USD 60-minute chart
Spot rate:
Relative change: -0.69%
High: 228.68
Low: 223.30
Trend: Bearish
Support 1: 224.37, supporting trend line of channel.
Support 2: 220.05, demand zone.
Support 3: 214.91, 3 October low.
Resistance 1: 225.65, 100MA (60-minute) & descending trend line.
Resistance 2: 226.33, upper part of ascending channel.
Resistance 3: 227.05, 50MA (60-minute).
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