RATE Group | Ethereum Price Analysis: ETH Near Make-or-Break Levels
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Ethereum Price Analysis: ETH Near Make-or-Break Levels

11 Dec Ethereum Price Analysis: ETH Near Make-or-Break Levels

Posted at 09:22h in Ethereum News by

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Key Highlights

  • ETH price declined recently and traded below the $92 support level against the US Dollar.
  • Yesterday’s highlighted key contracting triangle is intact with current support at $88 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to break the triangle and decline further towards the $85 or $80 levels.

Ethereum price failed to recover against the US Dollar and bitcoin. ETH/USD is likely to decline once again if there is an hourly close below $88 and $85.

Ethereum Price Analysis

After failing to clear the $98 resistance, ETH price started a fresh decline against the US Dollar. The ETH/USD pair traded lower and broke the $95 and $92 support levels. It opened the doors for more losses and the price settled below $90 and the 100 hourly simple moving average. At the moment, the price is trading near a major support area at $88, below which there could be a solid drop to $80.

More importantly, yesterday’s highlighted key contracting triangle is intact with…

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