ETHERUM Smashes Through Support With Increased Volume

in #ethereum • 8 years ago

$303 provided NO support for Ethereum as it blasted through that floor with increasing volume.

Screen Shot 2017-10-09 at 9.21.13 AM.png

ETH broke above $303 as resistance with volume on the way up. On the way down, it provided minimal support and bears pulled through to break the floor. $295 looks to be the next support, however bulls broke that level with minimal volume, indicating that this level might not be held for long and bears should be able to smash through that level with ease and take prices down to $290.

Ethereum formed a double top at the $314-312 level, and $286 is the floor it needs to hold to keep a higher low.

Overall bearish volume has been increasing, so there's definitely strength in this pullback.

Happy trading!

#bitcoin #litecoin #cryptocurrency #analysis
8 years ago in #ethereum by
$0.00
    4 votes
    Reply 2
    Sort:  
  • Trending
    • [-]
     8 years ago 

    @minnowpond1 has voted on behalf of @minnowpond. If you would like to recieve upvotes from minnowponds team on all your posts, simply FOLLOW @minnowpond.

            To receive an upvote send 0.25 SBD to @minnowpond with your posts url as the memo
        To receive an reSteem send 0.75 SBD to @minnowpond with your posts url as the memo
        To receive an upvote and a reSteem send 1.00SBD to @minnowpond with your posts url as the memo
    $0.00
      Reply
      [-]
       8 years ago 

      You gotta love Ethereum's volatility!

      $0.00
        Reply