- Etheruem was seen down around 1.5% on Thursday, enjoying a very minor bounce after hitting session lows.
- ETH/USD recent price action has formed a bearish pennant pattern, which is subject to a potential break lower.
- A cooling in prices is very much still evident across the board, without signs of a slowdown for now.
ETH/USD 60-minute chart
Spot rate: 414.26
Relative change: -1.40%
High: 424.68
Low: 409.47
Trend: Bearish
Support 1: 409.47, today’s (Thursday) low & lower part of pennant pattern.
Support 2: 407.83, Wednesday low (lowest level in 5 weeks).
Support 3: 406.00, demand zone.
Resistance 1: 415.50, previous demand zone.
Resistance 2: 418.00, 50MA.
Resistance 3: 421.80, 100MA.