Ethereum Technical Analysis: ETH/USD another wave of downside pressure

Ethereum price is trading in the red, down over 5% in the session on Thursday.
ETH/USD is back within the control of the market bears, following a short-lived bounce.
The bears retain control, as rallies continue to be sold as trend remains tilted to the downside.

Ken Chigbo Independent Analyst

ETH/USD weekly chart

The price is running at its sixth consecutive week in the red, as the bears maintain full control. Downside pressure has been intense since critical support gave way, $180-170 price range.

ETH/USD daily chart

Stabilization has been found at the $120 price mark, however upside is capped by daily resistance at $132.

Spot rate: 126.02

Relative change: -5.30%

High: 134.10

Low: 125.60

ETH/USD

Overview
Today last price	127.47
Today Daily Change	-5.63
Today Daily Change %	-4.23
Today daily open	133.1

Trends
Daily SMA20	145.11
Daily SMA50	163.81
Daily SMA100	173.39
Daily SMA200	205.42

Levels
Previous Daily High	134.85
Previous Daily Low	116.41
Previous Weekly High	152.14
Previous Weekly Low	139.4
Previous Monthly High	194.8
Previous Monthly Low	132.49
Daily Fibonacci 38.2%	127.81
Daily Fibonacci 61.8%	123.45
Daily Pivot Point S1	121.39
Daily Pivot Point S2	109.67
Daily Pivot Point S3	102.94
Daily Pivot Point R1	139.83
Daily Pivot Point R2	146.57
Daily Pivot Point R3	158.28

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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