Technical analysis and trading recommendations ETH/USD

04.09.2019 15:23:27

  • The price of Ethereum has stabilized over the past few sessions after recent sharp sales.

  • ETH/USD is forced to abandon the psychological mark of $200, which exposes the price to decline.

The price of Ethereum has managed to stabilize over the past four sessions after it was forced to fall to the lowest level seen since May. Although, Ethereum overcame the psychological mark of $ 200 back in August. The breakdown of this level was a big blow, in the end, it caused a further sale.

ethusd-4-August.jpg

The level of $180 provided the necessary support from August 13 to 27, while the price was consolidating. Daytime support finally gave way after a breakout away from the bear pennant.

Now the ETH/USD pair is again trading in a critical demand area from $185 to $165. This is a zone that historically serves as an area of ​​supply and demand, depending on the direction of the market. Breakout of this area by bears can be very risky. This seems to be the last significant barrier to re-testing the $100 mark.

Trading recommendations

The closest real targets are $160, $150 and $130. You can enter the market at the current market price with stops at $196.