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Analysis

Etherium Analysis – 01.02.19

After a good upward correction, Etherium faced strong resistance close to $ 110 against the US dollar.

The pair ended at $ 111 and started a new decline. She broke the $ 107 support and entered the bear zone.

Later, buyers managed to push the price below the fiber adjustment level of 50% from the last leg from $ 101 to $ 111 high.

More importantly, there was a pause and close below $ 105 plus a 100-hour simple sliding average.

During the downturn, there was a break below the mainstream bust line trend line with a $ 105 hourly schedule on ETH / USD. The pair is now trading in a bearish area below $ 105 and a 100-hour SMA.

Initial support is close to the level of $ 103. It coincides with a 76.4% fiber adjustment from the last leg of $ 101 to $ 111.

If the price falls to stay above $ 103, there is a risk of falling to $ 101.

The main support remains 100 dollars below which vendors are likely to take control. Etheria may go higher in the short term, but there are many upside barriers, close to $ 106.

The key resistance is close to $ 107 and the 100-hour SMA, over which the price can test $ 110.