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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.

Ken Chigbo Independent 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

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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