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  • Today’s technical correction loses momentum near $450, daily RSI moves sideways around 40, suggesting that sellers remain in control.
  • $400 looks vulnerable, a decisive break below that level could drag the pair to a fresh 2018 low.
  • Only a daily close above $500 could neutralize the near-term outlook.

ETH/USD daily chart

Spot rate:                   436.75

Relative change:         +1%

High:                            448

Low:                             424.70

 

Trend:                        Bearish

 

Support 1:                  400 (Jun. 29 low/end point of May 5 – June 29 doıwntrend).

Support 2:                  360 (2018 low).    

Support 3:                  300 (psychological level/horizontal support from Nov. 2017).    

Resistance  1:             455 (20-DMA).

Resistance 2:             500/505 (psychological level/Fibo. 23.6% retracement of May 5 – June 29 downtrend).

Resistance 3:             570 (Fibo. 38.2% retracement of May 5 – June 29 downtrend).