ETHUSD testing psychological $100.00

Ethereum is testing the psychologically important $100.00 level on Wednesday after sellers forced price below key trendline support on historically low volumes. The broader market sentiment remains negative, while the RSI indicator is showing that the ETHUSD pair is now oversold. A sustained loss of the $100.00 level will likely encourage technical selling toward the $92.00 level.

The ETHUSD pair is bearish while trading below the $110.00 level, key support is found at the 100.00 and $92.00 levels.

If ETHUSD pair trades above the $110.00 level, key resistance is found at the $113.00 and $124.00 levels.