OctaFX_Official

ETHUSD HEAVY LOSSES EXPECTED BELOW $395 LEVEL

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Ethereum continues to trade sharply lower on Wednesday, with the second largest crypto by market capitalisation facing a technical meltdown below the $395 support level . The ETHUSD pair started to weaken after slipping below the $440 level on Tuesday, as the broader cryptocurrency started to decline. Heavy losses are expected if the ETHUSD pair falls below the $395 level and triggers the bearish head and shoulders pattern.

The ETHUSD pair is strongly bearish while trading below the $395 level, key technical support below $395 is found at the $351 and $305 levels.

If the ETHUSD pair moves back above the $440 level, buyers will likely test towards the $460 and $482 resistance levels.
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