Ethereum Technical Analysis: ETH/USD heading back down south, eyes will be on to see if ascending trend line can prevent another large drop

• Ethereum price is seen down on Thursday, nursing losses of around 1.30%.
• ETH/USD bears are pressing the price down to a key near-term supporting trend line.

ETH/USD 30-minute chart

Spot rate:                                     528.72

Relative change:               -1.41%

High:                                                     545.30

Low:                                                        525.57

Trend:                                                   Bearish

Support 1:                                  525.15, 38.2% (support on 30-minute chart).

Support 2:                                    517.50, 50% Fibonacci and ascending trend line.

Support 3:                                    510.65, (support on 30-minute chart) & 61.8% Fibonacci.

Resistance 1:                           532.50, 100MA.

Resistance 2:                          536.45, 50MA.

Resistance  3:               545.20, supply zone.