- Ethereum was licking his wounds with losses of only 2.2%, after starting the session initially firmly on the back foot.
- The ETH / USD price action had formed a downward channel formation, which has since seen a decent turnaround on the upside.
- A broader recovery seen on the market, however sustainability is under discussion.
- Short-term views The price has been oversold, however in the longer term, there is potentially still room for the downside.
ETH / USD 60-minute chart
Spot rate: 144.15
Relative change: -2.25%
Support 1: 136.21, daily support of the articulation point.
Support 2: 124.28, daily support of the articulation point. .
Support 3: 103.62, daily support of the articulation point.
Resistance 1: 168.81, resistance at the daily articulation point.
Resistance 2: 189.46, resistance to the daily rotation point.
Resistance 3: 201.40, resistance to the daily rotation point.
Weekly chart ETH / USD
- Looking through the weekly chart view, price action is testing a vital weekly support. Levels not seen since July 2017.