There is a high probability of breakdown of the support price of Ethereum on the key level of $148,30.
The four-hour chart the ETH/USD
At the time of the market review Ethereum is trading at $149,20 with the reduction from session high price at $152,90.
Do the bulls have confirmed the support of a pair of ETH/USD on reversal level trend $148,30, but before the end of the day possible bearish price breakout below the key level. On the likelihood of near-term downside price movements indicated by the data of technical indicators:
- moving average EMA14 above the current price, the line of the trend indicator is pointing towards the reduction of quotations;
- the value of the index relative strength in sales and the line RSI14 is pointing down.
From the technical point of view, to cancel the bearish scenario, bulls need to overcome the resistance at the dynamic level, $151,20 and hold quotes a pair of ETH/USD above the local support level of $154,00.
In turn, the bears, after a breakout of pivot point will open a scope for the reduction of quotations of the pair at least to a high level of support and resistance of $140,00.