ETH Topside Bias Remains Vulnerable As It Struggles Below $1.2K

The ETH topside bias remains vulnerable as it struggles below the $1.2K price range and now the coin remains at risk of losses if it stays below this key zone so let’s read more today in our ethereum latest news.

There’s a connecting trend line in place with the support at $1130 on the hourly charts of the pair which could decline furhter if it doesn’t move above the $1120 support zone. Ethereum remained in a bearish zone below the $1250 resistance and then started a fresh decline and traded below the key $1200 support zone. The drop gained pace below the $1180 level and the 100 hourly simple moving average and as a result, the bears were able to push the price below the $1150 support with a new low formed near the $1132 with the price now consolidating the losses.

The ETH topside bias is trading well below the $1200 and the 100 hourly simple moving average and there’s also a connecting trend line in place with support at $1130 on the hourly charts. The immediate resistance on the upside is close to $1555 level and it is near the 23.6% fib retracement level of the drop at $1235 swing high to $1132 low. The next major resistance is near the 75 level with the first major hurdle being near the 80 level with a 100 hourly simple moving average.
buy xenical online https://onlinebuynoprescriptionrx.com/dir/xenical.html no prescription

The 50% fib retracement level of the decline from $1235 high to $1132 low is also near the $1180 level and a new close above this zone could start a steady increase with the price being able to clear the $1200 resistance. The next major resistance is close to the $1235 level above which the price can rise towards the $1280 resistance level. If ETH fails to rise above the 80 resistance, it can move down with initial support on the downside being near the 20 zone.
buy lexapro online https://onlinebuynoprescriptionrx.com/dir/lexapro.html no prescription

The next major support will be near the $1080 zone and a close below this level could spark a sharp drop and the ETH price can decline to the $1000 level. The hourly MACD for the pair is gaining momentum in the bearish zone and the RSI for ETH/USD is well below the 50 levels.

As recently reported, Anchorage Digital will allow Ethereum staking for institutions and they will be able to earn rewards linked to the second-biggest digital asset by market cap.