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Ethereum Technical Analysis: ETH/USD bears still have the strong scent of blood under their nose

  • Ethereum nursing chunky losses over 7% on Tuesday, a noteworthy underperformer.
  • ETH/USD price action is somewhat concerning, looking vulnerable, to another drop.
Ethereum Technical Analysis: ETH/USD bears still have the strong scent of blood under their nose
Ken ChigboKen ChigboIndependent Analyst

ETH/USD 30-minute chart


 


Spot rate:                   262.72

Relative change:       -7.47%

High:                          283.93

Low:                           249.93

Trend:                        Bearish

Support 1:                 259.25, (support on 30-minute chart).

Support 2:                 256.45, demand zone.

Support 3:                 249.93, today’s (Tuesday) low.

Resistance 1:            272.15, (resistance on 30-miunte chart).

Resistance 2:            281.38, 50MA.

Resistance 3:           300.73, 100MA. 

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Author

Ken Chigbo

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 Technical Analysis: ETH/USD bears still have the strong scent of blood under their nose