ETH/USD stays in a range, $110.00 support within reach. The upside looks unlikely from the short-term perspective. Ethereum is changing hands marginally above $112.00, losing nearly 4% since this time on Sunday. Ethereum, now the third largest coin with a market value of $11B and an average daily trading volume about $1.8B, is trading within a range limited by $110 on the downside and $120 on the upside. ETH closed the 7th consecutive month in the red zone, losing over 43% on a monthly basis. The coin tested water below critical $100 on a couple of occasions in November; however, the breakthrough proved to be unsustainable so far. Ethereum’s technical picture ETH/USD needs to return to the area above $120 to mitigate the bearish pressure, but this ultimate target is out of reach as long as the coin stays under $114.00 resistance followed by SMA200 (1-hour). Also, a strong barrier is spotted at $116.70 with a confluence of SMA100 and SMA50 (1-hour) making it a hard nut to crack for short-term Ethereum bulls. On the downside, the first support comes with $110.00, which is the lowest level of the recent channel. It is followed by November 27 low at $100.89 and critical $100. The Relative Strength Index stays close to the oversold territory and points downward, which implies that more sell-off is likely within the short-term timeframe. 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 JPY futures: further consolidation likely FX Street 4 years ETH/USD stays in a range, $110.00 support within reach. The upside looks unlikely from the short-term perspective. Ethereum is changing hands marginally above $112.00, losing nearly 4% since this time on Sunday. Ethereum, now the third largest coin with a market value of $11B and an average daily trading volume about $1.8B, is trading within a range limited by $110 on the downside and $120 on the upside. ETH closed the 7th consecutive month in the red zone, losing over 43% on a monthly basis. The coin tested water below critical $100 on a couple of occasions in November; however,… 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.