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Price Analysis

Ethereum (ETH) Price slips as low as $182, Major Support Area Lies Around $180

  • Ethereum price slipped below $190, yesterday.
  • ETH makes constant efforts to reach $190 again but faces a pullback after reaching $188.85.
  • Ethereum investors to have a loss-making phase if the coin slips below its major support level of $180.

Ethereum faces a heavy downfall after having a slip from its trading price above $200 and now near its major support level of $180. Important to note that the whole crypto market is facing a dull trading phase since the past 48 hours and the major coins have lost a colossal amount in this drop. But the coin has enough potential and it is a coin for long-term investment, so is expected to soon make a way through the bears it is facing currently.

ETH to USD Price Chart by TradingView:

The Ethereum price chart is a data feed from Coinbase as on 22nd August at 12:10 UTC.

Ethereum Price Comparison
ETH Price Chart by TradingView

ETH Price Comparison:

Tracing the 4-hourly movement of the coin, it is very well evident that the coin has an active bearish effect and it is going to remain the same throughout the day. Ethereum price will make a steady come back by improving and trading beyond $190 and $195. ETH price was trading at $184.24 around 08:15 UTC. Around 10:10 UTC the coin grew by 2% and reached above $185 at $187.94 where the coin was trading in the overbought region. Unfortunately, the coin could not hold tight and slipped to trade at $185.28. Currently, the coin is trading slightly above at $186.52. The ETH is going to face the major support at $180 and major resistance at $188, $190 and $195.

Technical Indicators:

The price of ETH continues to trade with strong selling pressure and the current trading price is notably lower than its 10-day SMA ($192.24) and 10-day EMA ($194.94).

The MACD of the coin indicates that ETH just had a ray of bullish divergence after being traded as low as $182 in the past 24 hours. With this, the coin even tries to embark on the positive side.

The RSI of the coin remains inclined towards the upper range near 70.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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