Ethereum price analysis – ETHUSD might decline towards $160.00

Ethereum price has failed to climb above the $200 resistance and declined recently against the US Dollar.

27 August 2019, OctaFX – The price of Ethereum is still failing to attract buying interest above the $200.00 level, leaving a further drop towards the $160.00 level increasingly likely.

Ethereum price technical analysis

A bearish head and shoulders pattern has formed on the lower time frames which shows a potential fall in the ETHUSD pair. Overall, the $200.00 to $180.00 price range is critical for the direction of the second-largest cryptocurrency this week.

  • If the ETHUSD pair trades above the $200.00 level, key resistance is found at the $210.00 and $230.00 levels.

  • If the ETHUSD pair trades below the $180.00 level, key support is found at the $170.00 and $160.00 levels.

Ethereum price, price of Ethereum


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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