An average 10-day volatility of ETHUSD dropped to 1.73%, which is close to the historical minimum. This development can be a sign of market indecision.
Looking technically, an important support area is created by SMA50 (Simple Moving Average) daily at $180.48. Once it is out of the way, the sell-off is likely to gain traction with the next focus on $180.00 and $178.00.
On the upside, keep an eye on $185.00 strengthened by SMA100 daily. We will need to see a sustainable move above this handle for the upside to gain traction and mitigate the bearish pressure. The next resistance awaits us on approach to $190.00, followed by $194.70 (November 6 high).