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Support levels: $ 101, $ 100
Resistance levels: $ 112, $ 114
Key points
- The price of Ethereum broke the key support at $ 110 and declined below.
- The key resistance is between $ 112 and $ 114
- The price of Ethereum may have a short-term recovery, but the key resistance is quite strong.
The price of Ethereum has dropped below the support of $ 110 and ETH will probably test the next key support between $ 101 and $ 100. If this key support is broken, the price may fall further below $ 100.
Price analysis of Ethereum
Ethereum prices failed to recover above the resistance around $ 120 yesterday and fell below the $ 110 support. Ethereum is currently trading around $ 111 (at the time of publication) according to the CoinGecko Cards. The price of Ethereum is currently in a bearish zone due to sales pressure.
In the last 24 hours, ETH has been trading at $ 106 but has been able to recover up to $ 114. However, the trend still remains bearish as the price is falling further after massive sales pressure around $ 113. A new resistance is set between $ 112 and $ 114, which is a major obstacle to the price to be recovered.
In the 24-hour chart, ETH is facing a huge sales pressure around the resistance of $ 113. Most likely ETH will test the next key support at $ 101 and may even fall below $ 100 if the support turned out to be weak.
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