Ethereum price tried to rise on its daily chart at the time of writing. Over the last 24 hours, ETH rose by 2%, price action continues to be mundane. In the last week, the Ethereum price fell by 21%. Technical indicators pointed towards continued bearishness. Buying strength declined substantially, which has pushed the price of Ethereum closer to its immediate support line. If buyers do not defend the closest support line, then Ethereum could head for a further decline on its one day chart. For the bearish thesis to be invalidated, ETH has to hop past several resistances. Selling dominance can further push the altcoin down. With the price of major market mover Bitcoin declining on its respective chart, most altcoins have followed suit. ETH has to move past the $2000 price level for the bearish thesis to be invalidated. ETH bulls are required to defend $1,200 price zone or else ETH could free fall to the $1,000 price level. Ethereum Price Analysis: One Day Chart ETH was trading for $1,360 at the time of writing. Ever since Ethereum touched the $1,800 price mark, the bulls could not sustain themselves and caused the asset to tumble further. The closest support line for the coin stood at $1,200. It is crucial for demand to shoot up for buyers to hold onto the $1,200 price mark because a fall from that level could make ETH touch $1,000. Resistance for the altcoin was at $1,560, moving past which there could be a ceiling at the $1,...
