ETH/USD bears are testing a critical supporting ascending trend line


  • Ethereum price on Monday is nursing some big losses of 3.5% in the second half of the session. 
  • ETH/USD bears are applying pressure to the supporting ascending trend line, that has been running since 15th December 2018. 

ETH/USD 15-minute chart

  • Recent price action has aggressively spiked to the downside, through the long running trend line.

Spot rate:                  155.27

Relative change:      -3.46%

High:                         0.3860

Low:                          0.3708

 

Trend:                        Bearish/Neutral 

 

Support 1:                 157.96, daily pivot point support.

Support 2:                 153.23, daily pivot point support.

Support 3:                 150.34, daily pivot point support.

Resistance 1:            165.59, daily pivot point resistance.

Resistance 2:            168.48, daily pivot point resistance.

Resistance 3:            173.22, daily pivot point resistance.

 

ETH/USD 4-hour chart 

  • As can see via the 4-hour view, the price is slipping below the key supporting ascending trend line. 

ETH/USD daily chart

  • The price has run into a troublesome area, supply seen tracking from $163-173 range. 



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