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  • Today Ethereum trades 3.72% lower as general crypto sentiment remains weak.
  • ETH/USD has found some support at 170.00 and is trying to push through resistance.

 

Today Ethereum broke a trendline to fall lower and make a lower high lower low.

At a low volume node on the volume profile price found some support at 170.00 and some rejection hammer candles formed.

Now the relative strength index (RSI) indicator has pushed higher but this could allow some room for a move lower.

The next support on the way down is 165.20 and if the bearishness continues it could be the next target.

Longer-term on the daily chart, the trend is heavily down and the base formation is holding at around 152.11.

Ethereum analysis