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.
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