RATE Group | Ethereum Market Update: ETH/USD gravitates targeting $130
71742
wp-singular,post-template-default,single,single-post,postid-71742,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Ethereum Market Update: ETH/USD gravitates targeting $130

12 Dec Ethereum Market Update: ETH/USD gravitates targeting $130

Posted at 03:53h in Ethereum News by

[ad_1]

  • Ethereum fails to break above the descending channel resistance amid increasing selling activity.
  • The support at $140 comes in the rescue of the bulls, but Ethereum is still at the risk of dropping to $130.

Ethereum is among the cryptocurrencies painting the market red. The price action has been bearish since the commencement of the Asian trading session. Ethereum is exchanging hands at $142 in the wake of losing 0.96% of its value on Thursday. The trend is strongly bearish amid the expanding volatility.

While the price has tested and defended $140 support, Ethereum is still in grave danger of dropping into the $130’s range. The price is reeling under the moving averages, whereby the 50 SMA on the 4-hour chart is hindering growth at $147.82 and the 100 SMA holding ground at $148.86.

From a technical perspective, Ethereum is primed for losses likely to test $130. The full stochastic is stuck in the oversold region. At the same time, the MACD is beneath the…

[ad_2]

Source link