Ken Chigbo
Independent Analyst
- Ethereum was nursing losses again, down 2.8% into the mid-point of trading on Monday.
- ETH/USD bulls have failed to show any signs of commitment since forming a bottom.
- Ethereum’s Vitalik Buterin said the future of crypto adoption is reliant on useful applications of digital currencies, as the hype seen in 2017 has passed.
- Price is moving within a range-block, lack of firm direction as of yet.
ETH/USD daily chart
Spot rate: 112.87
Relative change: -2.11%
High: 116.24
Low: 111.69
Trend: Bearish
Support 1: 113.90, daily pivot point support.
Support 2: 111.83, daily pivot point support.
Support 3: 108.21, daily pivot point support.
Resistance 1: 119.58, daily pivot point resistance.
Resistance 2: 123.20, daily pivot point resistance.
Resistance 3: 125.27, daily pivot point resistance.
ETH/USD 60-minute chart
- Shorts would likely come into play below $100, longs above $130 area, for big shifts in momentum.
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