Ethereum extended its fall on Nov. 21 and broke below the support of $135. The RSI has reached deeply oversold levels, which previously resulted in a pullback. Currently, the bulls are attempting to pullback from the $126.20 level, which is likely to face a stiff resistance at $167.32. The downtrending 20-day EMA will also be a difficult hurdle to cross.
If the next leg down breaks below $126.20, the ETH/USD pair can extend its decline to $110. As the trend is down, we shall wait for a new reliable setup to form before recommending a trade.
If the next leg down breaks below $126.20, the ETH/USD pair can extend its decline to $110. As the trend is down, we shall wait for a new reliable setup to form before recommending a trade.