Ken Chigbo
Independent Analyst
- Ethereum price has taken a heavy beating on Thursday down a whopping 14% in the latter part of the day.
- ETH/USD has breached a key ascending trend line via the daily, making more room for selling pressure.
- Next major area of demand can be seen around $290-270 range.
Spot rate: 288.14
Relative change: -14.95%
High: 310.90
Low: 282.08
ETH/USD 60-minute chart
- Price action testing near-term demand zone, $290-270 range, via the 60-minute.
ETH/USD daily chart
- Bears smashed through a key ascending trend line of support, inviting a fresh wave of selling.
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