Ethereum Technical Analysis: ETH/USD pressure is intensely on as bears look to make another attempt for firm break below $500

  • Despite some stabilisation on Monday, Ethereum still looks very much vulnerable to some downside pressure.
  • Ethereum has been on the most hardest hit across the major altcoins, dropping around 20% over two sessions.
  • Chunky demand zone seen running from just under the $500 mark, from $488 up to $505.

 

ETH/USD 60-minute chart

Spot rate:                    106.02

Relative change:         -0.35%

High:                            108.49

Low:                            103.82

 

Trend:                          Bearish/Neutral

 

 

Support 1:                   510.00, (support on 60-minute chart)

Support 2:                   495.00, 10th June low.   

Support 3:                   415.00, (support on 60-minute chart)

Resistance 1:              555.00 50MA.

Resistance 2:              578.78, 100MA.

Resistance 3:              610.00, Supply zone entry.

 

 

 

 

 

 


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