Ethereum Price Analysis: ETHUSD Pair at Risk Below $160 Support

November 19, 2018 AtoZ Markets  Ethereum price is trading below $160 strong support level with the 24 hours volume of $179 Million, in accordance with data. At the time of press, the coin has a market cap of $16.23 Billion.

In the last week, the price of the coin has dropped by -25.75% with a total volume of over $ 981.04 mln. The highest price of Ether, $ 212.47, was on 12 November 2018 at 17:00 GMT. The lowest price, $ 153.03, was on 19 November 2018 at 11:00 GMT.

Ethereum Getting Highly Bearish After a Break Below $160 Support

Looking at the charts, the past sessions for Ether were highly bearish. Earlier, the ETHUSD pair recovered a few points from the last low of $165 level. The price of the coin traded above the $175 and $178 resistance levels. Also, it spiked above the 23.6% Fibonacci retracement level of the recent drop from the $205 highs to $165 lows. However, the upside for ETHUSD pair was capped by the $180 resistance zone.

The price of the coin declined back below $175, but it later made another attempt to clear $180 levels. However, buyers failed to gain strength above the $180 level and the 100 hourly SMA. Besides, there is a key connecting bearish trend line formed with resistance at $180 on the daily chart of ETHUSD pair.

Moreover, Ether is currently moving lower and trading below the $160 level. On the downside, the next support is placed at $145, below which there could be a solid decline towards the $140 levels. On the upside, a break above $180 might push the Ethereum price towards $185. It represents the 50% Fibonacci retracement level.

In conclusion, Ethereum price is clearly in a highly bearish zone below $160 and $155 levels. Also, the technical indicators signals that the sellers might soon gain control below the $155 support level for an extended decline. Thus, the price of Ethereum might drop towards $150- $145 levels.

  • RSI(14) is valued below 50 which signals "Sell" action in daily time-frame.
  • William%R – "Oversold" signal on the daily time-frame.
  • MACD(12,26) – "Sell" signal in daily charts.
  • ATR(14) – signals that Ether is less volatile.

Ethereum Pivot Points

Ethereum has a significant support near $160 and resistance near $200 levels.

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