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  • ETH/USD slipped under $140.00 again.
  • The short-term downside correction to be followed by another bullish leg.

ETH/USD touched $140.78 during early Asian hours, but the upside proved to be unsustainable as the price quickly returned to the range below $140.00 handle. At the time of writing, the second largest coin is trading at $139.90 amid shrinking volatility and fading trading activity.  

From the short-term point of view, a sustainable move above $140.0o handle will unleash the upside potential of the coin. The next focus is on $146.00 with the recent high at $146.13. Once this barrier is left behind, $150.00 will come into focus.

On the downside, watch out for $138.20 (SMA200, 4-hour). This support is followed by $136.50 (SMA100 4-hour and $136.00. The next critical barrier comes as low as $130.00 with DMA50 spotted right below this level.  

With downward-looking RSI the risks are tilted to the downside, though the recovery may gain traction if the above-said support levels stay intact.  

ETH/USD, 4-hour chart