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  • Ethereum price seen down over 3% on Tuesday, as bears continue to test key near-term area of support.
  • ETH/USD is currently trading at the 38.2% Fibonacci, supporting the price from further downside.
  • Recent price action has formed a descending wedge pattern, seen on the 15-minute time frame.

 

ETH/USD 30-minute chart

Spot rate:                                     445.36

Relative change:               -3.10%

High:                                                   461.40

Low:                                                       441.30

 

Trend:                                                 Bearish

 

 

Support 1:                                  443.00, 38.2% Fibonacci & (support on 15-minute chart).  

Support 2:                                    439.32, lower support of descending channel.

Support 3:                                    434.93, (support on 15-minute chart).

Resistance 1:                          450.49, 50MA & 50% Fibonacci.

Resistance 2:                          453.69, upper resistance of descending channel.

Resistance 3:                          455.63, 100MA.