Should the bulls defend the demand level of $109 and the price bounces Ethereum price will resume its uptrend movement and may have its target at the previous high of $164.
In case the demand level of $146 does not hold the Ethereum price may find its support at $131 – $109 price level.
In case the bearish pressure continues and there is a bearish engulfing candle breakout and close below the demand level of $121, then Ethereum may have its low at $98 – $109.
Should the bulls succeed in breaking up the supply level of $103, Ethereum price will rally to the north and target the strong supply level of $131.
Ethereum price is fluctuating above the $79 price level, price breakout is imminent. In case the bullish candle penetrates the supply level of $103 and close above it, $157 price level may be its target.
Ethereum is trying to recover after a selloff on Thu, Dec 6, trading at around $104.02, reports Dmitriy Gurkovskiy, Chief Analyst at RoboForex.
Ethereum may find its low at the $90 demand level in case the bears were able to break the demand level of $102 downside.
Ether is slightly moving down on Thu Nov 29, trading at $122.20, reports Dmitriy Gurkovsky, Chief Analyst at RoboForex.
Ethereum refused to respect the historical price level of $140; it has gone down lower to the demand level of $102. ETH price may reach $90 price level as long as the bears maintain their pressure.