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.

Ken Chigbo Independent Analyst

Spot rate: 164.62

Relative change: -6.45%

High: 177.62

Low: 160.76

ETH/USD

Overview
Today last price	164.97
Today Daily Change	-12.43
Today Daily Change %	-7.01
Today daily open	177.4

Trends
Daily SMA20	152.85
Daily SMA50	144.26
Daily SMA100	134.34
Daily SMA200	152.76

Levels
Previous Daily High	186.06
Previous Daily Low	169.58
Previous Weekly High	180.05
Previous Weekly Low	140.14
Previous Monthly High	147.03
Previous Monthly Low	123.9
Daily Fibonacci 38.2%	179.77
Daily Fibonacci 61.8%	175.88
Daily Pivot Point S1	169.3
Daily Pivot Point S2	161.19
Daily Pivot Point S3	152.81
Daily Pivot Point R1	185.78
Daily Pivot Point R2	194.17
Daily Pivot Point R3	202.27

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

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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