- ETH falls hardest among major cryptos.
- Some support around the corner.
Ethereum, the second largest cryptocurrency by market capitalisation keeps losing its value by each passing day as if there is no tomorrow and there is no bottom, even as the RSI is deeply oversold and prices are at their lowest in last 14 months.
ETH/USD is down more than 3 percent down on day at $189.77 and has lost more than 12 percent in last 24 hours to hit lowest level last seen on July 29, 2017. Ethereum has lost more than 30 percent in the last one week and even as RSI is deeply oversold on the various timeframes, it continues to face selling pressure at higher levels.
Solace is from one descending trendline support on the 720-minute chart, which should help prices stabilise a bit, but how long will that be able to help prices, only time will tell.
ETH/USD 720-minute chart:
Share
