Ethereum Technical Analysis: ETH/USD price action spells further vulnerabilities to the downside
|- Ethereum price on Monday is trading down over 3%, as the downside trend continues.
- ETH/USD near-term price action is moving within a range-block, subject to a breakout to the downside.
ETH/USD 15-minute chart
- Price action is moving within a narrowing range, within this block formation.
Spot rate: 137.93
Relative change: -3.10%
High: 141.84
Low: 135.73
Trend: Bearish
Support 1: 134.85, daily pivot point support.
Support 2: 128.09, daily pivot point support.
Support 3: 124.04, daily pivot point support.
Resistance 1: 145.66, daily pivot point resistance.
Resistance 2: 149.71, daily pivot point resistance.
Resistance 3: 156.47, daily pivot point resistance.
ETH/USD 60-minute chart
- Should the bears force a breakout to the downside from the detailed range-block, it could send ETH/USD free-falling down towards $115.
ETH/USD daily chart
- Support to the downside via the daily time frame, will be eyed at the ascending trend line.
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