Ethereum Breaks Support | Where To Next?

Ethereum (ETHUSD) just broke and closed below EMA10 and EMA50, sending out a bearish signal.

After closing below these levels, ETHUSD is very likely to test lower next in the range of $168 - $172, followed by $164 if the earlier support can't hold.

The immediate resistance is now sitting at $177-$178... Before ETHUSD can move up, the above level needs to be broken.

But, with a bearish MACD and RSI as well as low volume after support was broken, there is the possibility of prices going lower.

Details can be seen on the chart.

The dashed blue lines are for support.
The dashed magenta lines are for resistance.

Feel free to leave a comment if you have any questions.

Namaste.