Hard week is behind Ether, in which the coin lost almost 25% of its value, losing more than BTC. Previously, ETH made significant efforts to hold the price around the psychological line at $3K, however, with the latest move, $3K could be a target for the end of this year. Lowest price reached during the week was $1.700, and ETH is finishing this week around $2K line, with prevailing selling orders on the market. RSI was pushed to the oversold market, and continues to move within this range. Moving average of 50 days is speeding move to downside, leaving modestly MA200 behind. Certainly, the golden cross will not occur in the coming period.
Current support line for ETH stands at $1.950, which is line tested as of the end of the week. Considering that selling orders continue to prevail on the market, it increases the probability for this line to be broken in the coming period, where ETH might find new support at $1.850. In case that current support sustains, then ETH will revert to the upside, to the level of next resistance at $2.100. Following resistance stands at $2.300 with significantly decreased probability that the market might test it in the coming days.
ETHUSD
Current support line for ETH stands at $1.950, which is line tested as of the end of the week. Considering that selling orders continue to prevail on the market, it increases the probability for this line to be broken in the coming period, where ETH might find new support at $1.850. In case that current support sustains, then ETH will revert to the upside, to the level of next resistance at $2.100. Following resistance stands at $2.300 with significantly decreased probability that the market might test it in the coming days.
ETHUSD
