Ethereum Price Analysis: There are signs a pullback might be starting

Ethereum is trading nearly 2% lower as crypto sentiment is weak on Wednesday.
Now the ETH/USD pair has started selling off and the chart highlights the support levels.

Rajan Dhall, MSTA FX Daily

ETH/USD 1-Hour Chart

Etherum has started to sell off slightly in mid-US session.

Now an internal trendline has broken after the previous high was not tested.

That failed test could mean the 260.00 support may be tested.

There was also a nice shooting star (inverted hammer) bearish candle at the top of the test of the high.

All of these bearish signals indicate we could be heading lower. Only time will tell.

Additional Levels

ETH/USD

Overview
Today last price	279.09
Today Daily Change	-3.92
Today Daily Change %	-1.39
Today daily open	283.01

Trends
Daily SMA20	228.09
Daily SMA50	183.54
Daily SMA100	166.83
Daily SMA200	177.68

Levels
Previous Daily High	286.37
Previous Daily Low	259.45
Previous Weekly High	287.42
Previous Weekly Low	216.5
Previous Monthly High	186.73
Previous Monthly Low	125.81
Daily Fibonacci 38.2%	276.09
Daily Fibonacci 61.8%	269.74
Daily Pivot Point S1	266.18
Daily Pivot Point S2	249.36
Daily Pivot Point S3	239.27
Daily Pivot Point R1	293.1
Daily Pivot Point R2	303.2
Daily Pivot Point R3	320.02

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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