Bears on the market Ethereum consolidate volumes to absorb the support prices for key $83,30.
The four-hour chart the ETH/USD
For graphics ETH/USD four-hour trading period for the period 10-16 Dec designed the key levels of support and resistance.:
- pivot – $96,30;
- support levels– $83,30/$75,20/$62,20;
- resistance levels– $109,40/$117,40/$130,40.
At the time of the market review at the end of the American session, the Ethereum to the United States dollar is trading at $88,40 with decrease in quotations against session high price of $94,62.
Short-term trend of a pair of ETH/USD is in a downtrend, its current price is below the pivot level of $96,30 the pressure of the moving average EMA14 with the value on the price scale $90,80.
Temporary support for the Ethereum likely buyers will have a $86,70, which earlier, on 8 December, the bulls have already managed to stop the decline in prices.
If today the bulls are not active in purchases of ETH, we should expect a sharp rise in the sales volume and the likely breakdown of key support level of $83,30 strong down momentum.