Ethereum Declining Towards $110

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.


This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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