Ethereum, now the third largest coin with a market value of $11B and an average daily trading volume about $1.8B, is trading within a range limited by $110 on the downside and $120 on the upside.
December 3, OctaFX – Ethereum has slipped under the $110.00 level in early week trade after the recent short-term recovery met strong technical resistance from the $125.00 level.
ETHUSD Technical Analysis
Buyers now need to break the $125.00 level in order to find further bullish momentum for an attack on the $140.00 resistance level. A sustained loss of the $100.00 support level should put the ETHUSD pair under considerable selling pressure.
- If the ETHUSD pair trades below the $100.00 level, sellers are likely to test towards the $97.60 and $90.00 support levels.
- If ETHUSD buyers breach the $125.00 resistance level, further upside towards the $140.00 and $152.00 levels seems possible.
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