Ethereum has lost all weekly gains. Sell-off may take the coin below $160 to 50.% Fibo. Ethereum dropped to $160.87 on Wednesday. This is the lowest level since April 16. While second largest cryptocurrency with the current market value of $17.3 billion managed to regain some ground to trade at $164.00 by the time of writing, it is still nearly 4% lower from this time on Wednesday. Moreover, ETH/USD has lost over 4% of its value on a week-on-week basis, reversing the gains of the previous week. At this stage, ETH recovery is capped by 38.2% Fibo retracement for the upside move from March 25 low. A sustainable move higher is needed to negate the immediate bearish pressure and proceed to the next bulls’ aim at $170.00 propped by the middle line of daily Bollinger Band. On the downside, a confluence of 50% Fibo retracement and the lower line of a daily Bollinger Band creates a strong support that is likely to stop the sell-off and initiate a recovery. However, once it is broken, the downside momentum will gain traction with $153.20 (61.8% Fibo retracement) next in the line, followed by $152.60 (DMA50). 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 BOJ’s Kuroda: Wanted to make stance clear on persistent easing (JPY ignores) FX Street 4 years Ethereum has lost all weekly gains. Sell-off may take the coin below $160 to 50.% Fibo. Ethereum dropped to $160.87 on Wednesday. This is the lowest level since April 16. While second largest cryptocurrency with the current market value of $17.3 billion managed to regain some ground to trade at $164.00 by the time of writing, it is still nearly 4% lower from this time on Wednesday. Moreover, ETH/USD has lost over 4% of its value on a week-on-week basis, reversing the gains of the previous week. At this stage, ETH recovery is capped by 38.2% Fibo retracement… 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.
