Ethereum Price Analysis: ETH/USD heading for the big psychological $200 price mark

Ethereum price is trading in the red by 6.30% in the session on Wednesday.
ETH/USD is exposed to a free-fall down to the psychological $200.
The bears have broken down a critical area of support, which was noted at $250-40 price range.

Ken Chigbo Independent Analyst

ETH/USD daily chart

The price is now running at three consecutive heavy sessions of losses in the red.

ETH/USD 60-minute chart

Markets bears have capitalized on a bearish pennant structure, inviting a fresh wave of selling pressure.

Spot rate: 259.20

Relative change: -6.30%

High: 250.24

Low: 234.54

ETH/USD

Overview
Today last price	231.07
Today Daily Change	-15.73
Today Daily Change %	-6.37
Today daily open	246.8

Trends
Daily SMA20	253.82
Daily SMA50	201.51
Daily SMA100	172.19
Daily SMA200	179.14

Levels
Previous Daily High	266.2
Previous Daily Low	244.75
Previous Weekly High	287.04
Previous Weekly Low	237.24
Previous Monthly High	186.73
Previous Monthly Low	125.81
Daily Fibonacci 38.2%	252.95
Daily Fibonacci 61.8%	258.01
Daily Pivot Point S1	238.97
Daily Pivot Point S2	231.14
Daily Pivot Point S3	217.52
Daily Pivot Point R1	260.42
Daily Pivot Point R2	274.03
Daily Pivot Point R3	281.86

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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Ethereum Price Analysis: ETH/USD heading for the big psychological $200 price mark