RATE Group | Ethereum (ETH) Price Analysis: Bearish Continuation Below $200
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Ethereum (ETH) Price Analysis: Bearish Continuation Below $200

11 Oct Ethereum (ETH) Price Analysis: Bearish Continuation Below $200

Posted at 07:28h in Ethereum News by

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Ethereum price tumbled recently and broke the $220.00 support. ETH/USD remains at a risk of more losses below the $200.00 support in the near term.

  • Ethereum price remained in a bearish zone and declined below the $220.00 support.
  • ETH/USD is currently forming a symmetric bearish triangle with resistance at $205.00 on the 30-minute chart.
  • The price is likely to break down and it could extend losses below the $200.00 support.

Ethereum Price

Ethereum Price Analysis

Yesterday, we discussed that Ethereum price is facing crucial hurdles near the $231.50 and $232.00 resistance levels and it could make the next break either above $228.00 or below $222.00.

Ethereum Price Analysis ETH Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair failed to move past the $228.00 resistance. As a result, there was a sharp downside move and the price broke the $220.00 support zone.

The drop was nasty as the price trimmed more than 10% gains and even spiked below the $200.00 handle. A low was formed at $199.64 and the price is…

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