Ethereum remained in red on Thursday. Sellers pushed the crypto currency to the 200.000 region. They lost momentum after that and the spot started a bearish consolidation. The coin traded in a tight range between 200.000 and 195.000 afterwards. The moving averages are heading lower. MACD declined in the negative area. RSI is flashing oversold signals. The resistance stands at 225.000, the support is at 220.000.
We expect the market to continue its downward trajectory and will move towards 180.000 or below.