Ethereum – ETHUSD at Two Week Lows, Bears Target $153

Ethereum ETH trades lower in European trading session giving up 3.92% at $170.56 as the bearish momentum persists below the 50-day moving average. Ethereum rebound from the September 26th low at $153 stalled at the descending trendline which started late September. Bears are still in control of the number two cryptocurrency after Ethereum breached the 50-day moving average. Ethereum market capitalisation today stands at 18.50 billion with the trading volume today reaching 7.06 billion.

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Ethereum Support and Resistance

ETHUSD is operating on slippery grounds, on the downside, first support for Ethereum stands at 168.34 daily low, below this level more bids might await at the lows seen on September 26th at $153.

On the upside, immediate resistance for Ethereum now stands at 177.48 today’s high, while more selling pressure will be met at $182.838 at the 50-day moving average. A convincing close above that level will open the way for a visit to the 100-day moving average at $197.08.

Bitcoin also trades lower today at %7,874 with a market cap at 142.51 billion and Litecoin – LTC trades at $52.61 with a market cap at 3.36 billion. The 100 biggest cryptocurrencies market capitalization now stands at 215.20 billion.Download our latest quarterly market outlook for our longer-term trade ideas.

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