- Ethereum price down a heavy 13% on Monday, nursing big losses.
- ETH/USD under going a fall through levels that hasn’t quite been seen before, like a number of its peers.
- The market cap gap between Ripple’s XRP and Ethereum has widened further. XRP at $19.5 billion vs. ETH $16.3 billion.
ETH/USD weekly chart
Spot rate: 154.04
Relative change: -12.95%
High: 177.95
Low: 152.07
Trend: Bearish
Support 1: 138.84, weekly support, last seen July 2017.
Support 2: 110.24, weekly support, last seen May 2017.
Support 3: 61.20, last traded May 2017.
Resistance 1: 173.16, prior support between 14-18 November.
Resistance 2: 181.31, daily resistance.
Resistance 3: 185.86, 15 November high.
ETH/USD daily chart
- ETH/USD bears broke through a near-term area of daily support, 14-18 November.
ETH/USD 4-hour chart
- Price action had formed a bearish pennant oattern, which was breached to the downside.
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