Real level of support - $ 100
Significant resistance level - $ 105
- The price of Ethereum plummeted and broke the main support of about $ 105 against the US dollar.
- Under the remarkable bullish pattern, a breakthrough occurred with support at $ 105 on the hourly chart.
- Ethereum collapsed in the support area for $ 100, and now he risks falling lower.
Ethereum fell sharply against the US dollar, as well as the Bitcoins. ETH / USD is currently under threat of further decline below support levels of $ 100 and $ 98 in the short term.
Ethereum Price Analysis
The price of Ethereum could not penetrate the resistance levels of 107 and 108 dollars and, thus, fell sharply against the US dollar. Sales pressure broke support levels of 105 and 103 dollars. The decline was very sharp, as the price even overcame the last minimum of fluctuations around the level of $ 102.
Moreover, under the line of the bull pattern there was a breakthrough with support for $ 105 on the hourly chart. The support level of about $ 100 turned out to be a bit strong, as buyers gathered around this point. Currently, the price is corrected above $ 101. There are many sellers from $ 103 to $ 105. Previous support around the $ 105 level has now become a new resistance.
Looking at the chart, the price of Ethereum risks falling after breaking through the main supports around $ 107 and $ 105. Thus, there is a danger that Ethereum in the short term will fall below support at $ 100 and $ 98.