Ethereum falls below the 300.00 psychological level

275 days, more than 9 months after, Ethereum is trading below the 300.00 mark versus the Dollar again. ETH/USD fell to 299.50, its lowest level since November 11, 2017.

Ethereum is trading 5.7% negative on the day at 299.95 after hitting lows. Pair is fighting back to recover the 300.00 fundamental level, but conditions are weak.

Recent selling around 318.00 and 315.00 have triggered stop losses that sent the pair below the 300.00 level. However, it seems the never-ending story as the cross is losing all battles against bears.

ETHUSD daily chart August 13

ETHUSD daily chart August 13

In the last 16 days, ETHE/USD just logged three positive days. Also, the additions on these days have been minimal. The continuous free-fall of the Ethereum plus the comatose technical conditions make hard for experts to expect something different than more declines. ETH/USD is technically weak.

MACD is below its midlines, RSI is comatose, and moving averages are aligned to the south. If the unit consolidates levels below the 300.00 price, it will find supports at 280.00, 250.00 and 200.00.

Is there a future for second largest cryptocurrency by market value? Well, if ETH/USD recovers the 300.00 area and closes above there. Then bulls may think they have some control recovered. However, the 360.00 level and after that the dynamic short-term resistance at 390.00 seem strong enough to contain the pair.

Bitcoin remains stable; fighting to recover the 6,500 area

BTCUSD daily chart August 13

BTCUSD daily chart August 13

Bitcoin is trading mixed on Monday as the pair rose to test the 6,500 level, but was rejected. BTC/USD is currently trading 0.20% negative at 6,503.

BTC/USD is consolidating levels between 6,000 and 6,500 after the pair found support at the bottom of the channel at 6,000, the lowest level since June 29, after falling from 8,500 high of July 24 and 25.

Technical conditions are weak, but differently than Ethereum, MACD; RSI and somehow moving averages are recovering ground.

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