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Ethereum price declined heavily before it found support near $135.00. ETH/USD is currently consolidating losses and it remains at a risk of more losses as long as below $152.00.

  • Ethereum price corrected a few points, but it failed near the $144.00 resistance.
  • ETH/USD could face resistance near $148.80 and a bearish trend line at $152.00 on the 30-minute chart.
  • The price could extend the recent drop unless buyers push the price above the $152.00 resistance.

Ethereum Price

Ethereum Price Analysis

Yesterday, we saw a nasty dive in Ethereum price from the $170.00 swing high. ETH/USD declined sharply and broke the $152.00 and $144.00 support levels to enter a bearish zone.

Ethereum Price Analysis ETH Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair settled below the key $152.00 pivot level and the 25 simple moving average (30-min). A low was formed at $134.59 and later the price started a short term upside correction.

The price corrected above the $138.00 and $140.00 levels. There was also a push above the $142.00 level and the 23.6% Fib retracement level of the last downside move from the $170.00 high to $134.59 low. However, buyers failed to gains strength above the $144.00-145.00 zone.

A high was formed at $144.78 and later the price started trading in a range. It seems like ETH is preparing for the next move, which could be either towards the $152.00 resistance or below the recent low at $134.59.


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On the upside, there is a strong resistance zone formed near $148.80 and $152.50. Besides, the 50% Fib retracement level of the last downside move from the $170.00 high to $134.59 low is near the $152.50 level.

Therefore, if there is an upward move, the price could face resistance near $148.80 and a bearish trend line at $152.00. A successful close above the trend line is must for buyers to gain traction and push the price above the $155.00 level.

On the other hand, if Ethereum price fails to break $145.00 or $152.00, there could be a fresh decline. On the downside, the main supports for ETH buyers are near $135.00 and $130.50.

The market data is provided by TradingView, Bitfinex.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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