Ethereum ETHUSD gives up 1.46% at $183.52 as the negative short term momentum persists below the 100-day moving average. Ethereum’s strong rebound from September 26 lows at $153 stalled at the descending trendline which started late September 2019. Sellers tested the $153 lows again at October 25 and managed to rebound sharply after China’s President Xi’s made surprisingly positive comments on the future of blockchain technology.
Bitcoin moved nearly 40% higher in less than two trading sessions since the positive news broke out, but stalled at the 100-day moving average and retreated lower at the 50-day moving average. Ethereum market capitalisation today stands at 20.03 billion with the trading volume reaching 8.45 billion.
Ethereum Technical Support and Resistance Levels
Ethereum during October capped by the descending trend line which started mid-September first and wn it managed to pierce above the trendline stopped at the 100-day moving average. On the downside first support for ETH stands at $182.39 daily low, below this level more buying interest might await at 181.30 the 50-day moving average. Breach of that level might refuel the bears and target the major support at $152.
On the upside, first resistance for ETHUSD now stands at 188.14 today’s high, while more offers will be met at the 100-day moving average at $187.75. A convincing close above that level will open the way for a visit at $200 where the number two crypto stopped late October.
Bitcoin BTC, also trades lower today at $8,990.25 with a market cap at 163.16 billion, Litecoin – LTC trades at $60.28 with a market cap at 3.87 billion. The 100 biggest cryptocurrencies market capitalization now stands at 244.19 billion.