January 2, OctaFX – Buyers have regained control of price-action in early Wednesday trading after Ethereum’s recent decline found strong technical support from the $111.00 level.
Ethereum Price Technical Analysis
The ETHUSD pair is only intraday bullish while trading above the neckline of the inverted head and shoulders pattern, at $126.00. Bulls may test towards the former weekly high, at $158.00, and potentially the $170.00 level.
- The ETHUSD pair is bullish while trading above the $126.00 level, key resistance is found at the $158.00 and $170.00 levels.
- If ETHUSD pair trades below the $126.00 level, sellers may test towards the $111.00 and $100.00 support levels.
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