Ethereum (ETH) Harvesting Best Out From The Support Levels Of $162 And $158

Ayush Malviyahttps://www.thecoinrepublic.com/
Ayush Malviya has recently joined as a technical market reporter for Thecoinrepublic- the Leading cryptocurrency news site. He believes that there is a broad scope in Crypto market and blockchain. Thats why he loves to gather knowledge about it and like to analyse the market pattern.
  • Ethereum is unable to maintain price sustainability above the price level of $170, and trading there with a negative change and downward momentum.
  • The ETH/BTC pair is also performing positively with the profit of – 1.19% bringing the levels to 0.02321647. 

ETH prices tried to maintain its presence above the level of $170 and were hoping to try to acquire the major level of $180 region but failed. Prices are again trying their best to meet up with the expectations but suffering volatility and suffering negative trade. 

There is a strong resistance line present near the level of $170, even though acquiring a good pace and the level itself was not enough as bulls are struggling to stay in the action against this resistance level and suffering heavy variation at the level of $170 and soon acquired negative momentum.

The support level of $162 is trying its level best to support the prices. ETH prices are suffering heavy resistance and time by time they are dropping and soon the will hit the level of $165 and it doesn’t stop there, it will provoke a falling momentum towards the key support level.

The market capitalization is $18,687,523,125 USD with volume traded $20,496,485,095 USD and circulating supply of 110,430,354 ETH.

ETHereum 1
Source:tradingview

The technical chart shows that Ethereum prices are suffering fast changes due to bears present at the level of $170. As ETH is developing a fall and there is bearish momentum in all aspects of the chart.

The technical indicators and oscillators are completely in ETH’s favor as they are blue and proving chills to traders that buying trade is going strong in cryptocurrency.

MACD levels were trading in bullish momentum but currently selling volume caught up with the buying one and showing signs that soon a negative trade will start at this level.

The 24hr- RSI showing a downfall after maintaining its trade-in heavy bullish patter at the bullish zone. Prices started falling about to hit the crucial zone of 60.

The 24hr-CCI has acquired a negative divergence, as from the top of the over buying region, prices started falling. Currently, there is a downward momentum in prices while they are trading in the normal zone.

Resistance level: $170
Support Level: $162

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