ETH/USD breaks vital supporting trend line, door left open for bears

  • Ethereum price on Wednesday was trading firmly in the red, down just shy of 3%. 
  • ETH/USD observed a key near-term ascending trend line be breached by market bears. 
  • Price heading towards a devastating daily closure below the psychological $200 mark. 

ETH/USD 4-hour chart 

Spot rate:                  200.05

Relative change:      -2.85%

High:                         207.94

Low:                          199.21

Trend:                       Bearish

Support 1:               198.62 , daily pivot point support.

Support 2:               194.41, daily pivot point support.

Support 3:               192.42, 31 October low. 

Resistance 1:           204.63, underneath breached trend line.

Resistance 2:           210.54, daily pivot point resistance.

Resistance 3:           214.75, daily pivot point resistance.

ETH/USD 60-minute chart

  • Sellers are pilling on the pressure, as ETH/USD buyers try to defend the big pyschological $200 mark.


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