- Ethereum was seen nursing some chunky losses of over 5.5% on Monday.
- ETH/USD broke out of a very import near-term supporting ascending trend line, opening the door to further selling.
ETH/USD 60-minute chart
Spot rate: 282.32
Relative change: -5.74%
High: 304.09
Low: 281.61
Trend: Bearish
Support 1: 282.00, entrance to key near-term demand zone.
Support 2: 277.25, 16th August low.
Support 3: 256.91, next demand area, low territory of August.
Resistance 1: 295.05, 50MA.
Resistance 2: 297.57, 100MA.
Resistance 3: 298.91, underneath breached trend line.