-Bitcoin news, price, information & analysis Ethereum price is back in a negative zone against the US Dollar and Bitcoin. ETH/USD could correct higher, but it is likely to face sellers near $445-448.
Yesterday, there were heavy losses in ETH price as it broke the $460 support against the US Dollar. The ETH/USD pair declined below the $452 pivot level to move into a negative zone.
It almost tested the $425 support before buyers appeared. A low was formed at $428.14 and the price is currently consolidating.
An initial resistance is near the 23.6% Fib retracement level of the last drop from the $486 high to $428 low. Above the $441 resistance, the next hurdle is near the $448-452 barrier.
There is also a crucial bearish trend line in place with resistance at $448 on the hourly chart of ETH/USD. The trend line resistance coincides with the 50% Fib retracement level of the last drop from the $486 high to $428 low. Read more from newsbtc.com…
thumbnail courtesy of newsbtc.com