Ethereum continues to trade below key support on Tuesday, after the second largest cryptocurrency by market capitalisation failed to attract fresh buying interest on Monday.
The ETH/USD pair has now lost over 15% of its value since last Friday, following the strong decline to $435.
Technical indicators remain bearish with further downside for ETH/USD increasingly likely.
The ETHUSD pair is strongly bearish while trading below the $450 level, key technical support is located at the $435 and $400 levels.
If the ETHUSD pair holds price above the $450 level, we may see a correction back towards the $465 and $478 resistance levels.
The ETH/USD pair has now lost over 15% of its value since last Friday, following the strong decline to $435.
Technical indicators remain bearish with further downside for ETH/USD increasingly likely.
The ETHUSD pair is strongly bearish while trading below the $450 level, key technical support is located at the $435 and $400 levels.
If the ETHUSD pair holds price above the $450 level, we may see a correction back towards the $465 and $478 resistance levels.
