RATE Group | Can Ethereum Sellers Keep The Decrease Going Below $125?
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Can Ethereum Sellers Keep The Decrease Going Below $125?

26 Dec Can Ethereum Sellers Keep The Decrease Going Below $125?

Posted at 04:21h in Ethereum News by

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  • Ethereum is slowly moving down and it recently broke the $125 support against the US Dollar.
  • The price is now facing a couple of key hurdles near the $126 and $128 levels.
  • Yesterday’s key bearish trend line is active with resistance near $127 on the hourly chart of ETH/USD (data feed via Kraken).
  • Bitcoin is currently consolidating near the $7,200 support area, with a minor bearish angle.

Ethereum price is slowly moving into a bearish zone versus the US Dollar and bitcoin. ETH price remains at a risk of more losses as long as it is below $130.

Ethereum Price Analysis

After struggling to stay above the $130 support, Ethereum price extended its decline against the US Dollar. ETH price broke the $128 and $126 support levels to move into a short term bearish zone.

Moreover, the price broke the $125 support and the 100 hourly simple moving average. It traded to a new intraday low near $123 and it is currently correcting higher.

There was a break above the 23.6% Fib retracement level of the…

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