ETH Bearishly Dips Below its Key Support Levels

    • Ethereum has recently broken its key support near $285 and even had a fall below $265
    • Yesterday’s price fall has caused ETH to trade below $300
    • The coin seems to resonate with Bitcoin price trend, as BTC has also lost its price position above $12000

In the last 1 day, Ethereum has traded bearishly against U.S Dollar. Similarly, Bitcoin has also been trading around $11500 after breaking major support levels. ETH had been above $300 since 7th July and BTC had been trading above $12000 since 9th July, and both the leading cryptos are now showing major price decline.

At 14:53 UTC Yesterday, Ethereum dropped below its major support price as the coin dropped well below $300 near $282.75, with a decrease of $8.68. ETH price remained above $285 till today, before it again saw a major fall even below $265 near $263.24. From there, the coin has corrected upwards near $272.36. Over the last 24 hours, ETH has shown a price decline of 11.81%.

ETH/USD 1-Day Price Chart by TradingView

Ethereum Price Chart
ETH Price Chart by TradingView

The recent price slump has led the coin to trade with selling pressure. The current price of ETH at 08:23:49 UTC is $272.36, which is 9.54% lower than its 20-days SMA of $301.10.

Ethereum price is already below major support levels such as $310, $300 and $280, which are now its upcoming resistance prices. The coin at present is battling with price barriers above $270 to gain stability above the price mark.

Ethereum Price Prediction With Technical Indicators:

The MACD chart for ETH is quite lowly volatile and also it just had a bearish crossover. RSI for Ethereum is near 50 showing no extremities. If ETH price manages to surge above $300, it may see further resistance at $306.86, while it has support price level at $268.71.

Be the first to comment

Leave a Reply

Your email address will not be published.


*