Bitcoin price drop has caused entire market to drop a significant market cap.Ethereum(ETHUSD) did fall along with Bitcoin.
One can see in the chart it has tested the preliminary support around 137 usd and might consolidates around this level , might retraces to the Support turned Resistance(Red Box) around 162 usd price level before moving down further to the next support level green lines and boxes on the chart mentioned.
However if the ETHUSD manages to break above the 162 price level then we might see 190$ price level in the coming days/weeks.
Breaking of the last line of support around 120$ price level will increases the chances of Ethereum below 80$ level.
One can see in the chart it has tested the preliminary support around 137 usd and might consolidates around this level , might retraces to the Support turned Resistance(Red Box) around 162 usd price level before moving down further to the next support level green lines and boxes on the chart mentioned.
However if the ETHUSD manages to break above the 162 price level then we might see 190$ price level in the coming days/weeks.
Breaking of the last line of support around 120$ price level will increases the chances of Ethereum below 80$ level.
Comment:
ETHUSD-134$ level(greenbar) turns out to be a support level. Now 160-165$ resistance level is to look for, if it manages to cross then 180$ price level is possible for Ethereum.
Comment:
Last support around 122-115$ held up good and retraced back up.
we might see $164 for eth in the coming days
we might see $164 for eth in the coming days
Trade closed: target reached