Ethereum Price Analysis: ETH/USD Nosedives Below $90, What’s Next?
- ETH price traded lower sharply below the $100 and $90 support levels against the US Dollar.
- There are two key bearish trend lines formed with resistance at $96 and $102 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could continue to decline and it may even break the $80 and $75 levels.
Ethereum price declined heavily against the US Dollar and bitcoin. ETH/USD is currently well below $90 and it could slide further towards $75 or $70.
Ethereum Price Analysis
Yesterday, we saw a massive break below $100 in ETH price against the US Dollar. The ETH/USD pair remained in a bearish zone and settled below the $100 level. The last swing low was formed at $94 before the price corrected higher. It moved above $100 and the 23.6% Fib retracement level of the last slide from the $112 high to $94 low. However, the upside move was capped near the $103 level.
The price failed near the 50% Fib retracement level of the last slide from the $112 high to $94 low. As a…
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