At the time of writing, ETH price is currently at $271.
ETH has been quite stagnant over the past 24 hours. Right now it's resting easily on the support at $270. As you can see from the chart, it has been on a downtrend since the last high established on August 18th when it hit $320.
Right now the most important thing (if you're bullish on ETH) is for it to hold the $270 support. If it fails to hold, we're looking at a drive down to $250 or so. Below that and we're really in uncharted territory as that would signal levels not seen since 2017. On the upside, if ETH can hold $270, we're looking to see if it can make a clean break above $280 and for it to hold it above that level. After that it could range for a while until it can gather enough momentum to have another test of $305. Above that and the next level we'd look at would be at $320.
On the daily chart for ETH, technical indicators still give a bearish outlook (14 sell, 10 neutral, 2 buy)
On the weekly chart for ETH, technical indicators also give a bearish outlook (14 sell, 8 neutral, 2 buy)
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