ETH/USD has reversed from Wednesday’s high amid a correction. The coin needs to regain ground above $120.00. Ethereum is changing hands at $117.90, losing nearly 4% since the beginning of the day. While the coin is still higher on a daily basis, the failure to stay above $120.00 darkens the short0term technical picture. ETH/USD has been one of the worst performing coins in recent weeks. The coin touched the area below critical $100 twice in November, however, on both occasions, new buyers came and to save the situation. Etherum has been under pressure due to large-scale sell-off by several ICO projects that were forced to return money to investors following the SECs penalties. Moreover, network update issues add uncertainty and increase the price pressure. Ethereum’s technical picture The price is supported by DMA5 at $115.34; though, we need to see a sustainable movement above $120 handle to get a chance for an extended recovery towards $130.00 with Pivot Point 1-month Support 3 on approach. From the longer-term point of view, an ultimate resistance is created by $200, though we will need to clear $186 (DMA50) before we get there. DMA100 at $215.50 might attract sellers and trigger profit-taking. However, once it is removed, the upside may be extended towards congestion area $250. On the downside, the critical support lies with the recent low of $100.92, it is followed by essential $100. ETH/USD, the daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next GBP/USD bolstered into 1.2850 after US Fed gives the Greenback a beating FX Street 4 years ETH/USD has reversed from Wednesday's high amid a correction. The coin needs to regain ground above $120.00. Ethereum is changing hands at $117.90, losing nearly 4% since the beginning of the day. While the coin is still higher on a daily basis, the failure to stay above $120.00 darkens the short0term technical picture. ETH/USD has been one of the worst performing coins in recent weeks. The coin touched the area below critical $100 twice in November, however, on both occasions, new buyers came and to save the situation. Etherum has been under pressure due to large-scale sell-off by several ICO… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.