Ethereum (ETH) falling price saved by critical ascending trend line, but for how long?

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  • Ethereum price nursing losses in second half of the session on Friday, down some 1.60%.
  • ETH/USD was saved by further downside by an ascending trend line. This has been running since the bounce on 31st October.
  • The above-mentioned ascending trend line, sees the 50% Fibonacci in proximity.

 

ETH/USD 4-hour chart 

 
 

Spot rate:                  209.64

Relative change:      -1.60%

High:                         213.52

Low:                          208.11

 

Trend:                       Bearish.

 

Support 1:                208.11, ascending trend line & 50% Fibonacci.

Support 2:                204.37, 100DMA & 61.8% Fibonacci.

Support 3:                192.42, 31st October.

Resistance 1:           211.76, 38.2% Fibonacci. 

Resistance 2:           216.31, 23.6% Fibonacci.

Resistance 3:           223.66, 7 November high.

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