Ethereum pricing analysis: ETH / USD is waiting patiently for its doomed fate


  • The price of Ethereum is losing heavy Tuesday losses of around 3.5% in the session, as it continues to be attacked by bears.
  • ETH / USD price action is shrinking within a pennant pattern, like many other altcoins.

The price of Ethereum was heavily seen on Tuesday by 3.5%, as bears continue to attack in full force through the encrypted market. The indicators remain firmly on the downside, as market participants continue to scratch their heads on where the fund will be.

The ETH / USD suffered a strong 35% in just 7 trading days, a very short time span. The initial sales pressure dropped to around $ 300, where price action was shrinking on September 5, when Ethereum escaped aggressively from a triangular pattern.

Technically, the price of Ethereum is still very vulnerable to a further heavy attack, the current price spells action. There is a narrowing in the interval, which usually sees a large breakout, which currently points to the negative side. Support in the short term seen immediately at $ 189, lower part of the pennant formation and therefore traces of a demand area from $ 185-190.

Chart 60 minutes ETH / USD

Get the 5 most predictable currency pairs

Source link