ETH/USD vulnerable to another potential bear attack

Fibo Quantum

  • Ethereum price is trading in the red, down over 0.65% in the session on Friday. 
  • ETH/USD maintains downside pressure, after a short-lived push higher on Wednesday, which has proven to be unsustainable. 
  • Bull rallies continue to be sold, given the stubborn trend to the south. 

 

ETH/USD weekly chart

Sellers have been in control for the last six consecutive weeks, forcing closures in the red. 

ETH/USD daily chart

The price has managed to find some daily support at the $120 price mark, resistance should be noted at $132. 

 

Spot rate:                     127.50

Relative change:         -0.65%

High:                            129.49

Low:                             125.95

 

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