Ethereum price inability to sustain gains above $120 is putting it a risk of freefalling to $100. The path of least resistance remains downwards although all the top three cryptocurrencies are showing signs of stability. Attempts to break above the seller congestion zone at $120 fizzled out at $118.44 (intraday high). ETH\/USD has explored levels slightly under $115 support forming an intraday low at $114.38.<\/p>\n
The prevailing trend remains strongly bearish but the low volatility means that fast movements downwards are unlikely in the current session. The 1-hour chart shows Ether trading between a resistance and support moving average. Whereby the 100 SMA is capping gains at $120 while the 50 SMA is in line to offer support at $114.93.<\/p>\n
A triangle breakout is likely in the coming sessions. Unfortunately, it could result in more losses targeting the $100 support especially if the RSI continues with the downward motion under the average (50). At the same time, if support at $114 - $115 holds, Ethereum could remain stable and allow the bulls to gather the strength to overcome the hurdles at $120.<\/p>\n
Support 1: $111 Highlighted by the 161.8% Fibonacci one-minute.<\/p>\n
Support two: $102.21 The previous year low.<\/p>\n
Resistance: $118 Previous high 4-hour, Fibo 23.6% one-day and the pivot point one-month support two.<\/p>\n
Resistance two: $122 Previous high one-day, pivot point one-day and resistance one.<\/p>\n<\/p>\n
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Ethereum Price Analysis: ETH\/USD looming freefall to $100 and how to avoid it - FXStreet<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum price inability to sustain gains above $120 is putting it a risk of freefalling to $100. Continue reading