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  • Ethereum (ETH) was seen nursing nominal losses of just 0.7% in the late part of Wednesday’s session.
  • ETH/USD upside being restricted by descending trend line. Price is also moving within a rising channel, subject to a potential breakout south.  

 

 

ETH/USD 60-minute chart  

 
 

Spot rate:                    

Relative change:       -0.69%

High:                          228.68

Low:                           223.30

 

Trend:                        Bearish

 

Support 1:                 224.37, supporting trend line of channel.

Support  2:                 220.05,  demand zone.

Support  3:                 214.91, 3 October low.  

Resistance  1:            225.65, 100MA (60-minute) & descending trend line.

Resistance  2:            226.33, upper part of ascending channel.

Resistance  3:            227.05, 50MA (60-minute).