- Ethereum price is nursing losses of around 1.7% in to the session on Friday.
- ETH/USD bears are penetrating key near-term support to the downside.
- Recent bottom is seen around the $120 area, a breakout could open gates to another wave of selling.
ETH/USD 4-hour chart
Spot rate: 122.72
Relative change: -1.70%
High: 127.10
Low: 118.11
Trend: Bearish
Support 1: 119.60, daily pivot point support.
Support 2: 114.40, daily pivot point support.
Support 3: 104.93, daily pivot point support.
Resistance 1: 134.26, daily pivot point resistance.
Resistance 2: 143.74, daily pivot point resistance.
Resistance 3: 148.93, daily pivot point resistance.
ETH/USD 60-minute chart
- ETH/USD price action is moving within a descending channel pattern formation
Share
