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.
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