- Ethereum abandons the exceptional 2019 surge and remains stuck in a narrow range.
- Short-term support at $ 150 is at risk as losses hit 1.81% during the day.
Ethereum kicked off 2019 as one of the largest buyers on the market. Not only has it become the second largest crypt by market capitalization and recovers the position from Ripple's RPP, but it has also surpassed significant resistance to $ 140 and $ 150. In the last week, the resource also exceeded $ 160 and tested $ 170 psychological.
It is expected that the upcoming update of Constantinople will give Ethereum more support as it aims at higher limits towards $ 200. However, it appears that the asset has slowed momentum to a week towards upgrading. The lateral trading of Ethereum is currently limited in a narrow range between $ 160 and $ 150.
Short-term support at $ 150 is at risk since the price tends to decrease at the time of writing. ETH / USD traded at $ 151, although Tuesday 8 traded a maximum of $ 153.45. The live cryptocurrency rates provided by FXStreet show that there was a loss of 1.81% per day. As explained yesterday, the downstream move was fired when the bears pushed the price below the trendline support to $ 160. Because Ethereum comes out of the bear trend, shoppers have to stand up for $ 150 and push for an inversion above $ 160.
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ETH / USD 1 hour chart
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