Above this, resistance lies at $550 (bearish. Under this, support lies at $465 (.618 Fib), $439 (August 2018 Highs), and $420 (.786 Fib).Īlternatively, the first level of resistance lies at $520. Moving forward, if the sellers break beneath $500 again, the first level of support lies at $480.
More specifically, the buyers bounced from the $495 support – provided by a. Unfortunately, the BTC price drop caused ETH to head lower from there as it dropped into the $500 support level today. Thanks for subscribing, you will get your first report in the next hours! On Monday, it had penetrated above the $600 level to hit as high as $620 (1.414 Fib Extension) on Tuesday. The cryptocurrency was trading at the $470 level last Friday as it started to push higher. Source: TradingView Ethereumĭespite dropping almost 20% over the past 4 days, Ethereum is still up by 6.8% over the week. On the other side, resistance is first expected at $17,185 (2018 Highs). Looking ahead, if the sellers push beneath $16,375, the first level of support is expected at $16,000.
The decline continued today as BTC fell into the $16,375 support – provided by a. Yesterday, Bitcoin dropped by a steep 10% to the $17,000 region. Unfortunately, it could not close a daily candle above $19,265 (1.272 Fib Extension) during the week. The cryptocurrency started the week on a bullish footing as it climbed higher from $18,000 and reached as high as $19,500. Bitcoin saw a slight retracement from its bullish rally this week after dropping 6.3% over the past 7 days.
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