Ethereum price defends key channel support after losses extended below $200. Technical indicators gang up strongly against the buyers as ETH/USD risks drop to $190 and $180 respectively. Ethereum price has for the first time since February 5, plunged underneath the critical $200 level. The losses have hovered over the crypto market since the weekend session. A minor recovery in the Asian session on Monday failed to see the light of the day as sellers put their feet on the ground to declare war against the buyers. ETH/USD is trading at $199 at the time of writing after losing 0.31% of its value on the day and 13.76% in the last 24 hours. In spite of the losses posted in the last 24 hours, Ethereum bulls refuse to be intimated. This is mainly because the losses are contained above key descending channel support. However, it goes without saying that the bulls are deeply wounded. ETH/USD can barely hold above $200, although a minor recovery has taken place from $196.57 (intraday low). If the channel support is defended, by all means, prospects for recovery above $210 could be high. Meanwhile, the drab technical picture suggests that sellers will remain in control a while longer. The RSI has dipped into the oversold. Selling pressure is emphasized by the downward slopping momentum indicator. At the same time, the MACD’s bearish divergence signals that the path of least resistance is downwards. If no progress is made above $200, ETH/USD could dive farther down to test $190 and $180 support levels respectively. ETH/USD 4-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 BOJ’s Kuroda: Uncertainty over Japan’s economy is heightening due to coronavirus outbreak FX Street 3 years Ethereum price defends key channel support after losses extended below $200. Technical indicators gang up strongly against the buyers as ETH/USD risks drop to $190 and $180 respectively. Ethereum price has for the first time since February 5, plunged underneath the critical $200 level. The losses have hovered over the crypto market since the weekend session. A minor recovery in the Asian session on Monday failed to see the light of the day as sellers put their feet on the ground to declare war against the buyers. ETH/USD is trading at $199 at the time of writing after losing 0.31%… 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.