ETHUSD VULNERABLE TO FURTHER LOSSES BELOW $425
Ethereum is under heavy selling pressure on Friday, after earlier falling to a fresh monthly trading-low just above the key $400 support level. The sentiment surrounding the cryptocurrency market market remains fragile, following the latest hacking scandal involving cryptocurrency exchange Bancor. Sellers are increasingly likely to test the $395 support level, while buyers will look to once again look to stabilize price above the key $440 level.
The ETHUSD pair is strongly bearish while trading below the $425 level, further losses towards the $395 and $350 levels seems possible.
If the ETHUSD pair moves above the $425 level, buyers may move price back towards the $440 and $458 resistance levels.
The ETHUSD pair is strongly bearish while trading below the $425 level, further losses towards the $395 and $350 levels seems possible.
If the ETHUSD pair moves above the $425 level, buyers may move price back towards the $440 and $458 resistance levels.
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