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Ethereum price analysis: ETHUSD under downside pressure

OctaFX | Apr. 26, 2019
Ethereum price analysis: ETHUSD under downside pressure

April 26, OctaFX – Ethereum price is under downside pressure on Friday, with the second largest cryptocurrency falling below major weekly technical support.

 ETHUSD technical analysis

The ETHUSD pair has failed to gain bullish momentum this week and has so far found support from the $145.00 level. The bearish head and shoulders pattern on the four-hour time frame remains key, with the ETHUSD pair now trading below neckline support, at $155.00.

  • If the ETHUSD pair trade below the $155.00 level, key support found at the $145.00 and $125.00 levels.

  • If the ETHUSD pair trades above the $155.00 level, key resistance is found at the $165.00 and $179.00 levels.

Ethereum price analysis

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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