Ethereum losses explored the levels below $165 and refreshed the support congestion zone above $160. Market volatility is at its highest level since the beginning of April – Bollinger Band. It’s a bloody Wednesday on the cryptocurrency market. The bears have had their field day as they pushed for revenge. Ethereum, just like the majority of cryptocurrencies plunged from the weekly high traded yesterday at $177.68. The declines were unstoppable at both the 50 simple moving average (SMA), the 100 SMA and the rising trendline support. Ethereum losses explored the levels below $165 and refreshed the support congestion zone above $160. The Bollinger Band 1-hour shows the volatility having to the highest levels since the first week of April. Prior to the sudden plunge, ETH/USD was sustaining the price above $170 key support following a correction from $ 167-weekend support area. At press time, the price is dancing at $163, the downtrend has slowed down. However, the support at $160 is still at risk due to the prevailing bear pressure. The RSI 1-hour is in the oversold after the rejection from the levels above 70 on Tuesday. The MACD also confirms that the bears have the upper hand in the near-term. All other technical indicators considered, Ethereum is likely to stay in a range between $160 and $165 in the coming sessions today as the bulls gather the strength to assault the levels towards $170. ETH/USD 1-hour 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 NZD/USD closes in on 2019 lows, trades around 0.6620 FX Street 4 years Ethereum losses explored the levels below $165 and refreshed the support congestion zone above $160. Market volatility is at its highest level since the beginning of April - Bollinger Band. It's a bloody Wednesday on the cryptocurrency market. The bears have had their field day as they pushed for revenge. Ethereum, just like the majority of cryptocurrencies plunged from the weekly high traded yesterday at $177.68. The declines were unstoppable at both the 50 simple moving average (SMA), the 100 SMA and the rising trendline support. Ethereum losses explored the levels below $165 and refreshed the support congestion zone above… 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.