Now it seems ready to test the sub-100 level

• The cryptography market suffered another round of downward sales on Tuesday, dragging Ethereum (ETH / USD) to a low intraday of 124.25, the lowest since May 2017.

• The short term oversold conditions have helped the digital currency rebound against the lows, which makes it difficult to technicalize an extension of the consolidated downtrend.

• Given last week's bearish turnaround in a consolidated trading range, a weakness under the $ 200 mark was seen as a key factor for bearish traders.

• A sale subsequent to the July 2017 lows has now prepared the basis for a test of a downward support of the trend line, which extends from the minimum established at the end of December 2017, April and September 2018.

Weekly chart of Ethereum