RATE Group | ETH/USD Loses Critical Support At $167, What’s Next?
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ETH/USD Loses Critical Support At $167, What’s Next?

22 Jan ETH/USD Loses Critical Support At $167, What’s Next?

Posted at 15:57h in Ethereum News by

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ETH Price Prediction – January 22

The bullish trend is on hold for now amidst major correction and if Ethereum (ETH) reclaims $180, buyers are likely to gain more control.

ETH/USD Market

Key Levels:

Resistance levels: $185, $190, $195

Support levels: $150, $145, $140

ETHUSD – Daily Chart

As the market opens today, ETH/USD makes a quick turn from $169 level after an unsuccessful attempt to settle below $166 where the coin is currently changing hands, down 1.5% on a daily basis and since the beginning of the day. The bulls have so far been hit by the rejection of the main barrier at $171, heading towards the 9-day moving average.

Looking at the daily chart, the initial support is created below the 9-day moving average at $165. Once this is eliminated, the sell-off may increase with the next focus on the $160 level. If this support level drops, the downward momentum could begin to snowball and the next downside target to $155. ETH/USD is powered by the lower line of the channel…

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