Ethereum price analysis – ETHUSD slips lower from $240


Ethereum price struggled to climb higher and declined below the key $240 level against the US Dollar.

9 August 2019, OctaFXThe price of Ethereum continues to slip lower in early Friday trade after finding strong technical resistance from the $240.00 level earlier this week.

Ethereum price technical analysis

Sustained weakness below the $220.00 level will likely prompt an important technical test of the $207.00 support level. If ETHUSD bounces from the $220.00 level, the second-largest crypto could start to rally towards the $280.00 level.

  • If the ETHUSD pair trades below the $220.00 level, key support is found at the $207.00 and $190.00 levels.

  • If the ETHUSD pair trades above the $200.00 level, key resistance is found at the $240.00 and $280.00 levels

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Disclaimer

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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