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Ethereum price comes under heavy selling pressure below $200

OctaFx | Aug. 15, 2019
Ethereum price comes under heavy selling pressure below $200

Ethereum price started a strong decline after it failed to surpass the $210 resistance against the US Dollar.

15 August 2019, OctaFX – The price of Ethereum has fallen under the $200.00 level as the entire cryptocurrency market comes under heavy downside selling pressure.

Ethereum price technical analysis

The ETHUSD pair may become an attractive buy from current levels, given that the second largest cryptocurrency is technically oversold. Bulls moving in from current levels would need to move the price back above the $220.00 level to steady market sentiment.

  • If the ETHUSD pair trades below the $200.00 level, key support is found at the $170.00 and $160.00 levels.

  • If the ETHUSD pair trades above the $200.00 level, key resistance is found at the $220.00 and $240.00 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.