Ken Chigbo
Independent Analyst
- 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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