- Ethereum price is down on Monday, nursing chunky losses of some 3% in the latter part of the session.
- ETH/USD is gradually giving back the gains which were made in February, as the bears take back control.
The Ethereum price took a further beating in the session on Monday, nursing losses of some 3%. Pressure resumed across the market, as participants remain very much cautious and have been since the big knock on 24th February.
ETH/USD is gradually giving back its big February gains, having dropped to its lowest level today seen since 17th February. The buyers have ben trying to defend the big $130 price area, however, have failed to do so in the session today – Monday.
Given the current downside pressure, eyes are on the big barriers of potential support, via the daily confluence detector. The levels of note; $126.26, monthly 61.8% Fibonacci, $124.96, daily pivot point support, 50 daily SMA.
ETH/USD daily confluence detector
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