ETH Losses Below $80 – There was a minor upside move above $88 and $90 in Ethereum price against the US Dollar. The pair tested the $90 resistance area and sales interests. From the bearish reaction, the price declined below the $87 and $85 support levels. There was a close below the $87 level and the 100 SMA. Global exchange.
Globalexchange. From the new intraday low formed at $82.99 the price may further decline. It is currently correcting above $85. The recent decline from the $90 high to $83 low and the resistance is at the 50% Fib retracement level. A new bearish trend line formed with resistance at $89 on the hourly chart ETH /USD. Seems there is a cluster of resistance formed between $88 and $90. Until long as the price is below $90, it may continue to decline. Globalxchange.
From the above chart, the ETH price could even break the $83 support level. The next key support level is at $80, below which the price will most likely accelerate towards the $75 level.
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