- Ethereum (ETH) nursing losses of over 2% in the session on Thursday.
- ETH/USD at risk of near-term supporting ascending trend line being breached by bears.
The Ethereum (ETH) price was on the back foot during the session on Thursday, at threat of giving up the big $200 mark again. Price across the board within the crypto market remains generally depressed, a lack of upside commitment.
Looking at the 60-minute chart, ETH/USD is testing an ascending trend line to the downside. This has been supporting the price since the low print on 11th October. A breach of this could really invite a new wave of selling.
ETH/USD support is eyed around $203, where the mentioned trend line is tracking. Should this manage to give way, eyes will firstly be on $192, low area of 15th October. Further south, a retest of the 11th October low could come into play. Resistance to the upside is seen running from $210 up to $215. Proving to be a touch area to breakdown.
ETH/USD 60-minute chart
Share
