Ethereum (ETH) Losing Pace, Could Dip To $175 Before Higher

THELOGICALINDIAN - Ethereum amount is disturbing to abide college against the US Dollar agnate to bitcoin ETH amount ability revisit the 175 abutment breadth afore it could ascend again

Ethereum Price Analysis

After aggressive aloft the $190 level, Ethereum bootless to bright the $194 and $195 resistances adjoin the US Dollar. A beat aerial was formed abreast $194 and the amount beneath beneath the $190 support.

Furthermore, there was a abutting beneath the $190 support and the 100 alternate simple affective average. It opened the doors for added losses beneath the $185 level. Added importantly, there was a breach beneath a key bullish trend band with abutment abreast $186 on the alternate blueprint of ETH/USD.

Finally, the amount acicular beneath the $180 abutment and traded as low as $179. At the moment, the amount is acclimation college aloft the $180 level. It bankrupt the 23.6% Fib retracement akin of the contempo abatement from the $194 aerial to $179 beat low.

However, the $185 akin and the 100 alternate SMA are acting as resistances. On the upside, the abutting attrition is abreast the $186 level. It represents the 50% Fib retracement akin of the contempo abatement from the $194 aerial to $179 beat low.

If there is an upside breach aloft $186, the amount could analysis the $190 attrition area. Any added assets ability advance the amount appear the $195 level. An average attrition is abreast the 76.4% Fib retracement akin of the contempo abatement from the $194 aerial to $179 beat low.

On the downside, the $180 akin is an antecedent support. If there are added downsides, the amount could analysis the capital $175 abutment area, area the beasts are acceptable to booty a stand.

Looking at the chart, Ethereum amount is assuming a lot of absolute signs aloft the $175 support, but it ability dip added in the abbreviate term. Having said that, the amount is acceptable to animation aback aloft $190 as continued as there is no circadian abutting beneath $175.