RATE Group | Ethereum (ETH) Dives To $170, Is $160 Next Bear Target?
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Ethereum (ETH) Dives To $170, Is $160 Next Bear Target?

17 Oct Ethereum (ETH) Dives To $170, Is $160 Next Bear Target?

Posted at 03:31h in Ethereum News by

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  • Ethereum price extended its decline and broke the $175 support area against the US Dollar.
  • Bitcoin price is also down more than 3% and it broke the $8,000 support area.
  • Yesterday’s highlighted key bearish trend line is intact with resistance near $175 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair remains in a bearish zone and it could face resistance near $175 and $180 in the near term.

Ethereum price is under selling pressure versus the US Dollar, similar to bitcoin. ETH price remains at a risk of more losses below the $170 level.

Ethereum Price Analysis

Yesterday, we saw bearish signs for Ethereum below the $185 resistance area against the US Dollar. ETH price remained in a bearish zone and even broke the $180 support. Moreover, there was a close below $180 and the 100 hourly simple moving average. It opened the doors for more downsides and the price broke the key $175 support area. It traded close to the $170 level and a swing low was formed near $171.

At the…

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