Ethereum price is struggling to clear the $1,900 resistance against the US dollar. ETH could gain bearish momentum if there is a close below USD 1,850.
- Ethereum is showing bearish signs below the USD 1,920 level.
- The price is trading below $1,900 and the 100-hour Simple Moving Average.
- A major bearish trendline is forming with resistance near $1,900 on the ETH/USD hourly chart (data feed via Kraken).
- The pair could decline steadily if the price stays below USD 1,900.
Ethereum price remains in danger
Ethereum price made another attempt to climb above the USD 1,900 level. However, ETH failed to gain bullish momentum above the USD 1,900 resistance and started a fresh decline similar to Bitcoin.
The price dropped below the $1,885 and $1,875 levels. The bulls are now active above the $1,860 level. A low is forming near USD 1,863 and the price is now consolidating losses. A major bearish trendline is also forming with resistance near $1,900 on the ETH/USD hourly chart.
Ether is trading below $1,900 and the 100-hour Simple Moving Average. On the upside, immediate resistance is near the $1,885 level. It is close to the 50% Fib retracement level which recently fell from the $1,903 swing high to the $1,863 low.
The first major resistance is near the $1,890 level or the 100-hour Simple Moving Average. It is close to the 61.8% Fib retracement level which recently fell from the $1,903 swing high to the $1,863 low.
Source: ETHUSD at TradingView.com
The next major resistance is near the USD 1,900 level and trendline, above which the price might test the main resistance at USD 1,920. Any further gains could send Ether towards the $2,000 resistance in the near term.
Lose more in ETH?
If Ethereum fails to clear the $1,900 resistance, it could fall further. The first support on the downside is near the $1,865 level.
The first major support is near the USD 1,850 level, below which the price could gain bearish momentum. The next major support is near the $1,825 support level. A close below the USD 1,825 could lead to sharp bearish moves towards the USD 1,720 level. More losses could open the door for a move towards the $1,650 support level.
Technical indicators
MACD per hour – The MACD for ETH/USD is gaining strength in the bearish zone.
RSI per hour – The RSI for ETH/USD is now below the 50 level.
Major Support Level – $1,850
Major resistance level – $1,900