Ethereum Technical Analysis: ETH/USD price action spells further vulnerabilities to the downside


  • Ethereum price on Monday is trading down over 3%, as the downside trend continues. 
  • ETH/USD near-term price action is moving within a range-block, subject to a breakout to the downside. 

ETH/USD 15-minute chart

  • Price action is moving within a narrowing range, within this block formation.

 

Spot rate:                  137.93

Relative change:      -3.10%

High:                         141.84

Low:                          135.73

 

 

 

Trend:                        Bearish

 

Support 1:                  134.85, daily pivot point support.

Support 2:                  128.09, daily pivot point support.

Support 3:                  124.04, daily pivot point support.

Resistance 1:             145.66, daily pivot point resistance.

Resistance 2:             149.71, daily pivot point resistance.

Resistance 3:             156.47, daily pivot point resistance.

 

ETH/USD 60-minute chart

  • Should the bears force a breakout to the downside from the detailed range-block, it could send ETH/USD free-falling down towards $115. 

ETH/USD daily chart

  • Support to the downside via the daily time frame, will be eyed at the ascending trend line. 

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