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Ethereum Technical Analysis: ETH/USD critical trend line must hold or face $100 again

  • Ethereum price on Thursday was hammered, firmly in the red by some 6.8% in the second half of the day.
  • ETH/USD bears are heading for a big retest of the critical trend line of support. 
  • If support noted above fails to hold, the price could back retesting the $100 mark. 

Spot rate:                  164.62

Relative change:      -6.45%

High:                         177.62

Low:                          160.76

ETH/USD 60-minute chart

  • Near-term hourly demand zone is currently preventing the price from a free-fall, around the $160 mark. 

ETH/USD daily chart

  • Bulls lost full control after losing ground and momentum as they tried to reclaim $0.4000. 

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