Tanya Abrosimova
Independent Analyst
- 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
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