- Ethereum price on the back foot in the session on Tuesday, nursing losses just shy of 1%.
- Current downside pressure is seeing a vital near-term area of support being penetrated.
- ETH/USD upside is capped by a running descending trend line, this has been in play since 7th November.
ETH/USD 60-minute chart
Spot rate:
Relative change: -0.85%
High: 209.40
Low: 207.27
Trend: Bearish
Support 1: 207.21, daily pivot point support.
Support 2: 204.99, daily pivot point support.
Support 3: 200.00, big psychological buying area.
Resistance 1: 210.50, 50 & 100MAs.
Resistance 2: 211.20, descending trend line resistance.
Resistance 3: 213.01, daily pivot point resistance.
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