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

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

Posted at 05:28h in Ethereum News by

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  • Ethereum price is under pressure and it could slide towards the $175 support against the US Dollar.
  • Bitcoin is currently correcting higher and it recently tested the $9,000 support area.
  • There was a break below a key bullish trend line with support near $186 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is currently consolidating near $182 and it could decline towards the $175 support.

Ethereum price is struggling to continue higher versus the US Dollar, similar to bitcoin. ETH price might revisit the $175 support area before it could climb again.

Ethereum Price Analysis

After climbing above the $190 level, Ethereum failed to clear the $194 and $195 resistances against the US Dollar. A swing high was formed near $194 and the price declined below the $190 support.

Furthermore, there was a close below the $190 support and the 100 hourly simple moving average. It opened the doors for more losses below the $185 level. More importantly, there was a break below a key bullish…

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