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- Ethereum was unable to maintain price sustainability above the price level of $165 and then fall below to the level of $159.
- The ETH/BTC pair is suffering and not performing well with the loss of – 2.36%, bringing the levels to 0.02295869.
ETH prices are unable to maintain its presence above the level of $165 and miserably failed to acquire the region of $170 and above. Prices are again trying their best to climb up, but they are falling, making it even worst. The market is developing a bearish nature.
There was a strong resistance of $175, even though acquiring a good pace is not enough as bulls were struggling a lot to stay in action against this resistance for the last two days and suffering a slight plummet, but today it all went sideways.
The support level of $160 is tried to support the prices, but it got blew away. ETH prices suffered hefty negative divergence, and time by time, they could seek to hold on to them, they also blew away the level of $160.
The market capitalization is $17,629,931,315 USD with volume traded $16,031,113,959 USD and circulating supply of 110,459,750 ETH.
Ethereum Price Analysis
The technical chart shows that Ethereum prices are suffering massive plummet in prices. As ETH maintained a gradual climb, but in today’s trading session, ETH price sustained bearish momentum.
The technical indicators and oscillators are showing an increase in the buying volume of the Ethereum, and this might be a good indication as prices can make a recovery.
MACD levels are trading in downward momentum currently, indicating that there is a bearish trade in the cryptocurrency. Due to the increase in selling volume, prices did suffer a lot.
The 24hr- RSI is showing a heavy downfall after maintaining its trade-in flat patter at the bullish zone. Prices are currently trading in the flat pattern in the bearish zone below the level of 50.
The 24hr-CCI has acquired a negative divergence, as, from the normal region, prices started falling and went to the lowest limit possible. Currently, there is positive momentum in prices while they are trading in the overselling zone.
Resistance level: $ 160
Support Level: $155
