In the recent fall of the Crypto market, Major Cryptos have declined in the trade against USD. Ethereum has shown major Bearish behaviour from the past week, Ethereum is ranked at #2 in the crypto market and has a total supply of 107,885,087 ETH. It has a net market cap of $18,234,913,436 USD .
Ethereum is now trading at $169.02 USD, and in the past 24 hours, its volume is observed at $13,159,465,485 USD with a circulating supply of 107,885,087 ETH. Ethereum hit an all-time high of $1,432.88 USD on the 13th of January 2018, also its least value was measured at $0.420897 USD on the 21st of October 2015. In the past day, Ethereum traded its highest at $203.50 USD and the lowest at $162.73 USD. As compared today, Ethereum has decreased a total of -16.71%, which is $-33.73 USD.
Ethereum Price Analysis
Ethereum, Bitcoin, Ripple, and other major cryptocurrencies showed Bearish behaviour from the past few days. Etheruem has crashed below its support level of $200 USD & $185 USD. Ethereum maintained at $185 USD support level for a few notable hours in the previous days. For this month it traded the least at $152 USD and has gained back from that line.
According to Fibonacci retracement level, Ethereum dropped 23.6% from its top trade of $210 USD to the least of $152 USD this month. Ethereuuum is trading at $169 USD as of today. Ethereum will have a tough fight maintaining over $180 USD level, and hence there is a new major downtrend (Bearish) line forming at $182 level on the trading chart of Ethereum against USD.
If Ethereum were to recover the resistance against $182 USD level, there will be resistance observed at $200 USD making it much tougher for Ethereum to cross $210 USD level.
If Ethereum should be back in the positive zone, it should cross the Major resistance level of $208 USD and move upwards showing Bullish behaviour after its downtrend.
A support sign is in favour of at $165 USD level, if Ethereum still continues its downtrend at $165 USD, it may hit another low of $152 USD. This might push Ethereum south of $152 USD in the time ahead.
As of today’s observation, the major support level stands at $165 USD and the resistance level at $185 USD. Etheruem is currently trading at $165 USD.