Ethereum revers the large chunk of recent gains. Local support is created by 200-SMA at $450. Ethereum has been sliding ever since it hit $516 high (July 18). The price of the second largest coin broke $475 support level created by 100-SMA (1-hour chart) and proceeded towards $450. ETH/USD is currently changing hands at $459. Ethereum’s market value is registered at $46.4B, while the average daily trading volume settled at $1.9B. The coin has lost 3.5% on a daily basis and 1.8% since the beginning of the day. Short-term trend is strongly bearish, while growing volatility may add pressure to the prices. Ethereum’s technical picture Looking technically, ETH/USD is supported by 200-SMA at $450 (1-hour chart). Once it is cleared, the sell-off may be extended towards $440 (the upper line of former consolidation rang0 ) and $421 (the lowest level of July 12). On the upside, the resistance is created by $480 with both 50 and 100-SMAs on approach. The psychological $500, followed by $516 (recent high) are likely to cap potential recovery for the time being ETH/USD, 1-hour 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 GBP/USD Review: Intraday traders looking to salvage a rise after a steep slide FX Street 5 years Ethereum revers the large chunk of recent gains. Local support is created by 200-SMA at $450. Ethereum has been sliding ever since it hit $516 high (July 18). The price of the second largest coin broke $475 support level created by 100-SMA (1-hour chart) and proceeded towards $450. ETH/USD is currently changing hands at $459. Ethereum's market value is registered at $46.4B, while the average daily trading volume settled at $1.9B. The coin has lost 3.5% on a daily basis and 1.8% since the beginning of the day. Short-term trend is strongly bearish, while growing volatility may add pressure to… 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.
