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Ethereum price under bearish pressure below $160

OctaFx | Apr. 12, 2019
Ethereum price under bearish pressure below $160

April 12, OctaFX – Ethereum price is under selling pressure on Friday after bulls failed to move the second largest cryptocurrency above the $185.00 resistance level.

ETHUSD price technical analysis

A bearish double-top pattern has formed on the four-hour time frame, which is adding to intraday technical selling pressure on the ETHUSD pair. The ETHUSD pair could start to slip towards its 200-day moving average if price falls below the $160.00 level.

  • If the ETHUSD pair trade below the $160.00 level, key support is found at the $152.00 and $140.00 levels.

  • If ETHUSD bulls hold price above the $160.00 level, key resistance is found at the $185.00 and $200.00 levels.

Ethereum price

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.