Ethereum Price Showing Early Signs of Fresh Drop, But This Support Is Key

Ethereum Price Showing Early Signs of Fresh Drop, But This Support Is Key

Ethereum failed to clear the $1,300 resistance zone against the US Dollar. ETH remains at a risk of more losses if there is a break below the $1,170 support zone.


  • Ethereum is facing resistance near the $1,250 and $1,280 levels.

  • The price is now trading below $1,240 and the 100 hourly simple moving average.

  • There is a major bearish trend line forming with resistance near $1,245 on the hourly chart of ETH/USD (data feed via Kraken).

  • The pair could accelerate lower if there is a clear move below $1,180 and $1,170.

  • Ethereum Price Faces Hurdles


    Ethereum attempted an upside break above the $1,300 resistance, similar to bitcoin at $17,000. ETH failed to gain pace for a clear move above the $1,300 resistance.


    A high was formed near $1,290 before the price started a fresh decline. There was a clear move below the $1,260 and $1,250 levels. Ether price even traded below the $1,220 level. A low is formed near $1,183 and ..

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