The value of Ethereum (ETH) is currently under serious bearish pressure against Bitcoin BTC and the USD. The value of the digital currency could decline further and trade below the $400 support level. If the coin trade below the support level, it will be the all-time low of the coin this year.
Technically, the daily chart indicators of the digital currency are not showing any signs of short-term recovery in the bearish zone, and it is possible the coin could test the $400 mark in a couple of days from now.
Ethereum Price Today: Current Price of ETH
At the time of writing, Ethereum (ETH) is trading at $433 after declining from its previous support level at $450. The digital currency has been responding to the bearish trend in the market, and its value has been heading south continually.
Ethereum Price Prediction and Analysis
The last couple of days were mostly bearish for the digital currency as it has not been able to break over its resistance at the $450 and $455 levels, which were its support levels a few days ago. The ETH/USD pair is at a risk of a sharp bearish reaction towards the $400 mark.
Also, the value of Ethereum (ETH) against Bitcoin (BTC) has failed to recover, and it is now trading below its support level at 0.0720BTC. The ETH/BTC pair is gradually declining to 0.0700BTC, which is its immediate support level.
The digital currency recently tested a new low at $421 before it corrected to its present value. Nevertheless, the upsides were capped and the digital currency has not been able to surge higher. It seems the value of the coin could decline further and test its key support at the $400 level.
If Ethereum breaks above its current resistance level, it will face another key resistance at the $500 level. But if it breaks below its support level, then it might head towards the $350 mark.