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  • Ethereum was slammed hard by the bears in the early part of Wednesday, first day of trading in August dropping some 6% initially.
  • ETH/USD printed its lowest level in around 5 weeks, making to salvage some support just above $400.
  • Looking at the longer time frame, daily,  via the RSI it isn’t quite in oversold territory yet.  


ETH/USD 60-minute chart


Spot rate:                    422.14

Relative change:        -2.28%

High:                          437.21

Low:                           410.27

Trend:                         Bearish



Support 1:                  418.00, demand zone.

Support 2:                  410.97. today’s (Wednesday) low, consolidation area in June, before large bull run.

Support 3:                  405.00, 29th June low.

Resistance 1:             425-426 top area for today (Wednesday) (resistance on 60-minute chart).  

Resistance 2:             425-430, supply zone.

Resistance 3:             436.72, 50MA.