Search ForexCrunch
  • 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.