- Ethereum is declining and it recently traded below the $148 support against the US Dollar.
- The price is currently below $145 and it seems like there is a risk of more downsides.
- Yesterday’s key bearish trend line is active with resistance near $147 on the hourly chart of ETH/USD (data feed via Kraken).
- The price could correct higher, but it is likely to face sellers near $146 and $148.
Ethereum price is declining further below key supports versus the US Dollar, similar to bitcoin. ETH price remains at a risk of another drop towards the $135 and $132 levels.
Ethereum Price Analysis
Recently, Ethereum made a couple of attempts to climb above the $150 and $152 resistance levels against the US Dollar. However, ETH price struggled to gain momentum above $150 and the 100 hourly simple moving average.As a result, there was another bearish reaction below the $148 support area. Moreover, the price broke a couple of important supports near the $145 level. Finally, the price traded to a new weekly low near $143 and it is currently consolidating losses.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently gaining pace in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now well below the 50 level, with a bearish angle.
Major Support Level – $142 Major Resistance Level – $150