After the Binance hack news, Ethereum (ETH) back the price to support, and started a new decline after attaching the key $180 refusing against US dollar. $175 and $169 support levels to examine the next support nearly $164.Where there is a short term connecting fall in trend line in place with resistance at $172 on the hourly chart of Ethereum. The pair could be consolidating only a few hours before the test, the $172 and $174 resistance levels, the price of Ethereum trimmed recently and gain versus the USD and bitcoin. Ethereum tested $164 to support and May soon bounces it back above $170 in the future sessions.
Analyzing the price of Ethereum ,last May 07, 2019, price climbed above the key $170 and $175 levels against USD, Ethereum and USD pair even broke the $178 level which is settled above the 100 hourly which is simply active average. It was practice and tested the $180 resistance zone, which the sellers shown, later on there was downward movement going down to $175 support level, that decline the pace after the report of 7,000 bitcoin hack from the cryptocurrency exchange, and fueled downside and moving the price going down $169 and 100 hourly SMA.
The price break the 61.8% Fib retracement level of going up from $180 going down $160, and finally the price found support to the nearest $164 level and currently consolidating the losses, an immediate resistance of $168 level and 100 hourly SMA. Aside from 23.6% Fib retracement level recently drop $180 going down to $164 nearest the level of $168.it has many hurdles near $170 and $172 levels. Ethereum (ETH) escape considerably on Tuesday and trading $171 mark on Wednesday dropping from the $180 mark from which it reached last Tuesday.
Adding on that all, major coins saw also considerable retreats with BCHABC going down around 3% to the $287 level after having flirted with $300 mark last Tuesday, whilst Litecoin (LTC) was drop down by similar margin going to the $74.50 level. Ripple (XRP) continued its flat performance to 1% decline to the $0.30 level,whilst Cardano (ADA) experience also considerable drop down around 4 % to market at the $0.065 mark at press time, and NEO once again fell below the $9 mark to the $8.93 level or a drop of 4%whilst stellar lumens(XLM) drop down by 5% to the $0.093 level. IOTA was drop down by 2% to the $0.273 mark. EOS was perhaps the best performing among the larger trading market cap coins as it was fell down by 1% to the $4.92 level. A currency with smaller market caps has also experienced also the decline with NANO losing all the grains from the past 24 hours at the back of 7.5% drop.
Ethereum classic (ETC) down by 2.5% to the $5.70 mark, whilst BAT lost which is similar amount to the market at the $0.33 mark. ATOM, continued declining after all the prebious hype surrounding it and down to the 10% almost going to the $4.48 mark. WAVES, FET and ONT were drop down from between 8% and 2%, whilst DASH and MATIC were down by 4% and 10% respectively.