- 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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