ETH bears engineered a strong sell-off below the critical support area. The downside momentum remains strong at this stage. Ethereum, now the second-largest digital asset with the current market value of $19.3 billion, has recovered from the recent low of $174.62, though it is still 3.5% lower from this time on Monday. At the time of writing, ETH/USD is changing hands at $176.57. Ethereum’s technical picture On the daily charts, ETH/USD has moved below SMA50 (Simple Moving Average) at $180.90 and smashed psychological $180.00 and attempted a breakthrough below the lower line of the daily Bollinger Band at $177.23. The bulls lost the initiative and now the risks are skewed to the downside. If $174.00 gives way, the sell-off may be extended towards $160.00, which is the lower boundary of the recent long-term range. On the upside, keep an eye on the above-said resistance area created by SMA50 daily. It is followed by SMA100 daily on approach to $181.00. We will need to see a sustainable move above this handle for the upside to gain traction. 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 USD/JPY recovers a major part of its early lost ground, comfortable above mid-108.00s FX Street 3 years ETH bears engineered a strong sell-off below the critical support area. The downside momentum remains strong at this stage. Ethereum, now the second-largest digital asset with the current market value of $19.3 billion, has recovered from the recent low of $174.62, though it is still 3.5% lower from this time on Monday. At the time of writing, ETH/USD is changing hands at $176.57. Ethereum's technical picture On the daily charts, ETH/USD has moved below SMA50 (Simple Moving Average) at $180.90 and smashed psychological $180.00 and attempted a breakthrough below the lower line of the daily Bollinger Band at… 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.
