Ethereum Price Dives 8%, Why ETH Might Soon Test $1K

Nov 21, 2022 08:00 am Cryptocurrency 110

Ethereum started another decline below the $1,180 support against the US Dollar. ETH is down over 8% and there is a risk of a move towards the $1,000 support.

Ethereum started a major decline below the $1,180 and $1,170 support levels.

The price is now trading below $1,150 and the 100 hourly simple moving average.

There was a break below a key bullish trend line with support near $1,210 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could correct losses, but there is a risk of more downsides towards $1,000.

Ethereum Price Takes Hit

Ethereum price attempted an upside break above the $1,250 resistance, similar to bitcoin. ETH struggled to gain momentum and reacted to the downside below $1,200.

There was a break below the $1,180 and $1,170 support levels. Besides, there was a break below a key bullish trend line with support near $1,210 on the hourly chart of ETH/USD. The price gained ..

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