Ethereum Bears Target Monthly Lows at 153

Ethereum ETH continues lower for the sixth consecutive session as the bears are controlling the number two cryptoccurency. ETH has lost over 20% this week, mirroring bitcoin which has lost over 18% this week. Ethereum drop accelerated after it pierced the 200-day moving average. As of writing, Ethereum trades 2.97% lower at 164.93 testing the strong support at 164 which provided rebound twice in September for ethereum.  On the downside, first support for Ethereum stands at 163.14 daily low below this level, the next support comes in at the lows seen on September 24th at 153.

On the upside, immediate resistance for Ethereum now stands at 171.00 today’s high, while more selling pressure will be met at 189.80 at the 200-day moving average.

Ethereum market capitalisation stands at 17.54 billion with the trading volume today reaching 7.5 billion. Bitcoin trades at 8,102 with a market cap at 145.7 billion and Litecoin – LTC trades at 55.60 with a market cap at 3.45 billion. The 100 biggest cryptocurrencies market capitalization nows stands at 212.8 billion.

Crypto Destroyer

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