FX.co ★ Ethereum approaches key support trend line.

Red line- support trend line

Ethereum is trading around $1,804. Short-term trend remains bearish as price continues making lower lows and lower highs. As expected by our previous posts, Ethereum has reached the key upward sloping support trend line around $1,800. Price remains vulnerable to more downside, specially if price breaks the red trend line. Resistance is found at $1,874 and as long as we trade below this level, bears will remain in control of the short-term trend.