- Ethereum price on Tuesday remains on the back foot, nursing losses around 2%.
- ETH/USD price action is moving within a rising wedge pattern, currently being tested to the downside.
- There doesn’t appear to be too much support between current levels and $200. Should the wedge fail to hold, a fast move may be seen down to sub-$200 territory.
ETH/USD 60-minute chart
Spot rate: 227.58
Relative change: -1.90%
High: 232.40
Low: 226.51
Trend: Bearish
Support 1: 226.50, lower part of rising wedge.
Support 2: 220.53, support on 60-minute.
Support 3: 213.30, 29th September low.
Resistance 1: 235.00, supply area.
Resistance 2: 243.05, upper part of rising wedge.
Resistance 3: 250.00, resistance & psychological area.