ETHUSD HEAVY LOSSES EXPECTED BELOW $395 LEVEL

ETHUSD HEAVY LOSSES EXPECTED BELOW $395 LEVEL

Ethereum / Dollar BITFINEX:ETHUSD


Ethereum             continues to trade sharply lower on Wednesday, with the second largest crypto by market capitalisation facing a technical meltdown below the $395 support level . The ETHUSD             pair started to weaken after slipping below the $440 level on Tuesday, as the broader cryptocurrency started to decline. Heavy losses are expected if the ETHUSD             pair falls below the $395 level and triggers the bearish head and shoulders pattern.

The ETHUSD             pair is strongly bearish while trading below the $395 level, key technical support below $395 is found at the $351 and $305 levels.

If the ETHUSD             pair moves back above the $440 level, buyers will likely test towards the $460 and $482 resistance levels.