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ETHUSD - Recovers Well to $160 as Hard Fork Looms

 

 
Ethereum (ETHUSD) has enjoyed its last few weeks and into the new year by moving very strongly from multi-year lows near $80 back up to around $160 in the last 24 hours. It has met some resistance at the latter level in the last couple of weeks which has seen Ethereum sold off a little. Given its momentum in its recent run, it wouldn’t surprise many to see it break through the resistance at $160 and threaten to return to the next potential significant level of $190. Ethereum enjoyed support from the $190 level for a couple of months before it broke down strongly through this level down to the multi-year lows close to $80.
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ETHUSD - Desperately Seeking Any Support from Around $250

 

 
After dropping sharply for several weeks, Ethereum is desperately looking for any support from around the $250 level which has propped it up a little in the last couple of weeks. Throughout the first half of August, Ethereum fell very sharply through any support at $400 down to new lows for 2018 a couple of weeks ago. Since that time, it has attempted to rally higher without much luck. It returned to back above $300 briefly before easing back towards the $250 level. Ethereum was enjoying a reprieve from the heavy selling as it received some much-needed support from around $400 throughout July however that level now seems some distance away.
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ETHUSD - Drops to 2018 Low Below $350

 

 
The last few days have seen Ethereum drop sharply through any support at $400 down to a new low for 2018 below $350. Ethereum was enjoying a reprieve from the heavy selling as it received some much-needed support from around $400 for the last month or so, however this has given way for the time being. During this consolidation, a strong rally saw it push up to a one month high above $500, however this was short lived. Throughout May and June however, the cryptocurrency continued to decline strongly. 
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