Ethereum price declined nearly $100.00 in the past seven days and traded close to the $200.00 support. Similarly, there were heavy losses in bitcoin, ripple, EOS and other major altcoins.

  • Ethereum price failed to climb above $280.00 and declined sharply below $245.00.
  • ETH/USD is facing a major resistance near $232.00 and a bearish trend line on the 30-minute chart.
  • The price remains at a risk of more losses as long as it is trading below the $245.00 pivot level.

Ethereum Price

Ethereum Price Analysis (ETH to USD)

In the past two days, the crypto market came under a lot of pressure, with significant losses in bitcoin, Ethereum, ripple, BCH, EOS, LTC and other major altcoins. ETH/USD failed to settle above $300.00 and it declined close $100.00 in the past seven days.

Ethereum Price Analysis (ETH to USD) Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair broke the key $270.00 and $262.00 support levels to start a strong downward move. Later, the price broke the $245.00 pivot level and settled well below the 25 simple moving average (30-min).

The price even traded close to the $200.00 level and a new monthly low was formed near $202.94. Recently, Ethereum price started an upside correction and traded above the $215.00 level.

There was a break above the 50% Fib retracement level of the recent decline from the $239.81 high to $202.94 low. However, the price is facing many hurdles on the upside near the $225.00 and $232.00 levels.


Currently, the 61.8% Fib retracement level of the recent decline from the $239.81 high to $202.94 low is acting as a resistance. Moreover, there is a major resistance forming near $232.00 and a bearish trend line on the same chart.

To start a decent recovery, the price must break the $225.00 and $232.00 resistance levels, with a close above the 25 simple moving average (30-min).

However, the main resistance is near the $245.00 pivot level, above which Ethereum price might recover towards the $270.00 level. On the downside, the $202.00 and $200.00 levels are key supports, below which ETH price could test the $185.00 support.

The market data is provided by TradingView, Bitfinex.

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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.

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