Ethereum remains under heavy technical selling pressure on Wednesday, with the third largest cryptocurrency looking set for a seventh consecutive day of losses. A clear breach of the $119.00 support level will likely accelerate technical selling towards the psychological $110.00 level. Traders should also note that price has now broken below the neckline of the largest head and shoulders pattern on the daily time frame.
The ETHUSD pair is strongly bearish while trading below the $133.00 level, key support is now found at the $111.00 and $100.00 levels.
If the ETHUSD pair trades above the $133.00 level, buyers are likely to test towards the $140.00 and $157.00 resistance levels.
The ETHUSD pair is strongly bearish while trading below the $133.00 level, key support is now found at the $111.00 and $100.00 levels.
If the ETHUSD pair trades above the $133.00 level, buyers are likely to test towards the $140.00 and $157.00 resistance levels.
