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Technical analysis

Ethereum Price Bearish Below $110

OctaFx | Jan. 30, 2019
Ethereum Price Bearish Below $110

January 30, OctaFX – Ethereum is testing the psychologically important $100.00 level on Wednesday after sellers forced price below key trendline support on historically low volumes.

The broader market sentiment remains negative, while the RSI indicator is showing that the ETHUSD pair is now oversold across the lower time frames. A sustained loss of the $100.00 level will likely encourage technical selling toward the $92.00 level.

ETHUSD Technical Analysis

  • The ETHUSD pair is bearish while trading below the $110.00 level, key support is found at the $100.00 and $92.00 levels.
  • If ETHUSD pair trades above the $110.00 level, key resistance is found at the $113.00 and $124.00 levels.

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.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.