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  • 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.