ETH/USD desperately trying to find comfort

  • Ethereum price in the second half of the session on Tuesday was trading marginally in the red, down some 0.35%.
  • ETH/USD hunting for the next area of support following key breakout to the downside from an ascending formation.
  • The next major area of potential comfort is seen down at around the $130 territory. 

Spot rate:                 133.51

Relative change:      -0.35%

High:                        134.80

Low:                         132.58

Trend:                       Bearish/Neutral 

ETH/USD 60-minute chart

  • Support saves price, for now, demand area running from $131-132 range. 
  • Price action capped to the upside by hourly resistance seen at $134.50. 

ETH/USD daily chart

  • Bears are gradually extending the price south, following the critical breakout of a key supporting trend line, as part of a wedge formation. 


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