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  • Ethereum price on Wednesday extending the move south, nursing losses of over 3%.
  • ETH/USD bears were penetrating the lower support of a rising wedge pattern, which has now been breached.  
  • A break and retest have been observed, which works firmly in the bears favor for now.  

 

 

ETH/USD 60-minute chart  


 
 

Spot rate:                   218.98

Relative change:       -3.09%

High:                          226.49

Low:                           214.00

 

Trend:                        Bearish

 

Support 1:                  215.00, demand area.  

Support 2:                  208.25, support on 60-minute chart.

Support 3:                  203.24, 25th September low.

Resistance  1:             225.96, 50MA (60-minute).

Resistance  2:             229.12, broken wedge and 100MA (60-minute).  

Resistance  3:             236.00, resistance on 60-minute chart.