- Ethereum has recently broken its key support near $285 and even had a fall below $265
- Yesterday’s price fall has caused ETH to trade below $300
- The coin seems to resonate with Bitcoin price trend, as BTC has also lost its price position above $12000
In the last 1 day, Ethereum has traded bearishly against U.S Dollar. Similarly, Bitcoin has also been trading around $11500 after breaking major support levels. ETH had been above $300 since 7th July and BTC had been trading above $12000 since 9th July, and both the leading cryptos are now showing major price decline.
At 14:53 UTC Yesterday, Ethereum dropped below its major support price as the coin dropped well below $300 near $282.75, with a decrease of $8.68. ETH price remained above $285 till today, before it again saw a major fall even below $265 near $263.24. From there, the coin has corrected upwards near $272.36. Over the last 24 hours, ETH has shown a price decline of 11.81%.
ETH/USD 1-Day Price Chart by TradingView
The recent price slump has led the coin to trade with selling pressure. The current price of ETH at 08:23:49 UTC is $272.36, which is 9.54% lower than its 20-days SMA of $301.10.
Ethereum price is already below major support levels such as $310, $300 and $280, which are now its upcoming resistance prices. The coin at present is battling with price barriers above $270 to gain stability above the price mark.
Ethereum Price Prediction With Technical Indicators:
The MACD chart for ETH is quite lowly volatile and also it just had a bearish crossover. RSI for Ethereum is near 50 showing no extremities. If ETH price manages to surge above $300, it may see further resistance at $306.86, while it has support price level at $268.71.