-Bitcoin news, price, information & analysis Ethereum price tumbled and declined heavily versus the US Dollar and Bitcoin. ETH/USD remains in a bearish zone as long as it is below $400.
This past week, there were heavy losses noted in ETH price once it broke the $400 level against the US Dollar. The ETH/USD pair declined sharply and broke many supports such as $380, $350 and $320.
The price is now well below the $340 level and the 100 simple moving average (4-hours). On the upside, an initial resistance is around the $330 level and $335 zone.
Moreover, the 23.6% fib retracement level of the last drop from the $410 high to $304 low is also a crucial barrier. Above this, there is a connecting bearish trend line formed with resistance at $330 on the 4-hours chart of ETH/USD.
A push above the trend line resistance could push the price above the $344 level. The next resistance is the 50% fib retracement level of the last drop from the $410 high to $304 low at $357. Read more from newsbtc.com…
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