- Ethereum price recovered from the recent low, still vulnerable to losses.
- The next support awaits ETH bears on approach to $184.00.
ETH/USD is trading at $185.27 at the time of writing, having recovered from the intraday low of $184.11. The second-largest digital asset with the current market value of $18.8 billion has lost 1.34% of its value since the beginning of Thursday and stayed mostly unchanged on a day-to-day basis.
Ethereum’s technical picture
From an intraday point of view, ETH/USD has returned inside the 1-hour Bollinger Band. Its lower boundary at $184.62 now serves as an initial support level. Once it is out of the way, the sell-off is likely to gain traction with the next focus on the recent low of $184.11 and psychological $184.00. The next support awaits us on approach to November 12 low at $182.21.
On the upside, a recovery above SMA50 (Simple Moving Average) at 1-hour at $186.25 is a precondition for an extended recovery with the next focus on $186.70 with a confluence of SMA200 and the middle line of 1-hour Bollinger Band.
ETH/USD, 1-hour chart
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.