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  • Ethereum is moving within consolidation mode, holding minor gains of just some 0.20%.
  • ETH/USD below the psychological $200 mark remains vulnerable to further downside, as the price consolidates.  

 

The Ethereum price on Friday is trading in marginally positive territory of some 0.20%, in the latter part of the session. ETH/USD lost much ground earlier in the week, after the bears forced the price through the psychological $200 price territory.  

ETH/USD is trading within consolidation mode below a critical prior acting demand. The zone was seen running from $175 – 165 range, before the bears to break this. It is now largely capping upside in acting as a new supply area.

Vulnerabilities appear to be tilted to the downside, given the above noted. In terms of next major area of support, this can be seen down at $150, the price last traded here in April, when ETH/USD was enjoying a bull run.

ETH/USD daily chart