Ethereum will reach $53, trader explains



  • Ethereum price is under a great deal of weight as it broke the $185 low against the US Dollar.
  • There are two bearish pattern lines set up with resistance at $190 on the hourly outline of ETH/USD (information feed through Kraken).
  • The pair could keep on moving down and it might even break the $175 and $170 levels.

Ethereum price is moving south against the US Dollar and bitcoin. ETH/USD broke the $185 low and it will in all probability broaden misfortunes beneath $175.

Ethereum Price Decay

There was a minor upward move towards the $195 level in Ethereum price against the US Dollar. The ETH/USD pair even exchanged near the $200 level and framed a high at $199.55. Afterward, there was a sharp drawback move and ETH price broke the $190 support. All the more vitally, ETH price broke the $185 low and exchanged to a new low at $176.25. It appears as though the price neglected to move past $200 and it at present well underneath the 100 hourly straightforward moving normal.

As of late, Ethereum price amended higher from the $176 swing low. It exchanged over the 23.6% Lie retracement level of the last decrease from the $199 high to $176 low. Be that as it may, the upside move was topped by the $185-188 zone. Additionally, there was no trial of the half Lie retracement level of the last decrease from the $199 high to $176 low. On the upside, there are two bearish pattern lines set up with resistance at $190 on the hourly graph of ETH/USD. In this manner, if Ethereum price adjusts higher, it could confront substantial offers close to the $185 and $190 levels.

ETHUSD Price Chart 12 September

Taking a gander at the diagram, Ethereum price is in an unmistakable bearish pattern beneath $190. On the off chance that dealers gain energy, there could be more misfortunes underneath $175 and $170.

Hourly MACD – The MACD is marginally set in the bearish zone.

Hourly RSI – The RSI is presently well beneath the 40 level with bearish signs.

Real Support Level – $175

Real Resistance Level – $190



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