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The ETH / USD aggressively stretches down, following the fundamental disruption of the trend line

  • Ethereum's childcare losses of around 14% are late on Thursday.
  • The bears of the ETH / USD raised the downward pressure by one notch, following the fundamental violation of the trend line.

The price of Ethereum is seen down huge double-digit losses, in the last part of Thursday's trading. The ETH / USD was in the red by a large 14%, after the great sales pressure hit the entire cryptocurrency market.

ETH / USD was initially supported by a long-standing growing trend line, which was at stake from December 15th until January 8th. Given the violation, the eyes are still stuck on a further downward pressure. This anticipates the updating of Ethereum Constantinople on January 16th.

The next main support area is visible around the $ 117 mark, which is the low region of December 27-28. If the price were to rebound, a potential repetition of the violating trend line is likely to occur.

Daily ETH / USD chart

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