Ethereum Remains Under Downside Pressure


December 13, OctaFX – Ethereum remains under downside pressure on Thursday, with the ETHUSD pair still struggling to move away from worst trading levels of 2018 so far.

Technical Analysis: ETHUSD Indicators Attempting to Recover

The MACD and Stochastic indicators are attempting to move away from extremely oversold conditions on the daily time frame, although bullish momentum remains weak.

If the ETHUSD pair can establish a price floor, buyers may attempt to rally price towards the $122.00 resistance level.

  • If the ETHUSD pair moves above the $100.00 level, buying may attempt a recovery towards the $115.00 and $122.00 resistance levels.
  • A decline below the $80.00 support level will likely accelerate ETHUSD selling towards the $75.00 and $70.00 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.

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