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Ethereum Technical Analysis: ETH/USD squeezed below key near-term support

Ethereum price is nursing losses in the session on Thursday, down some 3.7%
ETH/USD bulls were pressed lower and forced to breach a near-term ascending trend line.

Ken Chigbo Independent Analyst

ETH/USD 60-minute chart

Spot rate: 118.95

Relative change: -3.70%

High: 124.00

Low: 115.81

Trend: Bearish

Support 1: 113.12, daily pivot point support.

Support 2: 103.52, daily pivot point support.

Support 3: 96.78, daily pivot point support.

Resistance 1: 119.00, underneath breached trend line.

Resistance 2: 129.65, daily pivot point resistance.

Resistance 3: 136.39, daily pivot point resistance.

ETH/USD daily chart

Following the reversal doji candlestick, upside still looks promising, there is resistance in the way heading into $130. A top area for 23, 24 and 28 November.

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.

Ripple stabilizes as support holds amid steady ETF inflows

Ripple pares losses and trades around $1.05 at the time of writing on Monday. The cross-border remittance token is attempting a recovery after last week’s sell-off, which intensified as the US and Iran exchanged fire.

Crypto Today: Bitcoin and Ethereum edge higher, XRP pares losses as US and Iran agree to resume talks

Bitcoin is showing renewed signs of recovery, approaching the $60,000 mark at the time of writing on Monday. Among altcoins, Ethereum is positioned for a potential breakout above $1,600, while Ripple continues to face bearish pressure, holding just above the key $1.00 psychological support.

Bitcoin four-year cycle: BTC risks 75% drawdown with four months of bear market still ahead

Bitcoin price continues to trend downward below the $60,000 support zone after losing over 50% of its value since the $126,199 high in October. Bitcoin’s four-year cycle, measured from cycle tops to bottoms, suggests that four months of a bear market are still ahead.

Bitcoin Price Forecast: Mild recovery as US and Iran agree to halt attacks, resume talks

Bitcoin recovers slightly on Monday, trading above $60,000 after closing below the 200-week SMA the previous week. Market sentiment turned cautiously positive after the US and Iran agreed to halt attacks and renew peace talks.

Bitcoin: BTC hits 20-month low, will the pain continue?

Bitcoin has remained under pressure this past week, losing over 5% as traders assess mixed signals from different parties involved in the Middle East conflict.