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Ethereum Technical Analysis: ETH/USD critical trend line must hold or face $100 again

  • Ethereum price on Thursday was hammered, firmly in the red by some 6.8% in the second half of the day.
  • ETH/USD bears are heading for a big retest of the critical trend line of support. 
  • If support noted above fails to hold, the price could back retesting the $100 mark. 
Ethereum Technical Analysis: ETH/USD critical trend line must hold or face $100 again
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  164.62

Relative change:      -6.45%

High:                         177.62

Low:                          160.76

ETH/USD

Overview
Today last price164.97
Today Daily Change-12.43
Today Daily Change %-7.01
Today daily open177.4
 
Trends
Daily SMA20152.85
Daily SMA50144.26
Daily SMA100134.34
Daily SMA200152.76
Levels
Previous Daily High186.06
Previous Daily Low169.58
Previous Weekly High180.05
Previous Weekly Low140.14
Previous Monthly High147.03
Previous Monthly Low123.9
Daily Fibonacci 38.2%179.77
Daily Fibonacci 61.8%175.88
Daily Pivot Point S1169.3
Daily Pivot Point S2161.19
Daily Pivot Point S3152.81
Daily Pivot Point R1185.78
Daily Pivot Point R2194.17
Daily Pivot Point R3202.27

ETH/USD 60-minute chart

  • Near-term hourly demand zone is currently preventing the price from a free-fall, around the $160 mark. 

ETH/USD daily chart

  • Bulls lost full control after losing ground and momentum as they tried to reclaim $0.4000. 

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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