Ethereum price started a recovery wave above $ 2,650 zone. ETH is now struggling to erase the resistance levels of $ 2,880 and $ 2,920.
- Ethereum started a considerable upward movement above $ 2,620 zone.
- The price acts under $ 2,750 and the 100-hour simple advancing average.
- There was a break under an important bullish trend line with support for $ 2,800 on the hourly table ETH/USD (data feed via Kraken).
- The couple can start a new decline if it remains below the $ 2,800 level.
Ethereum -PRijsherstel could soon fade
Ethereum -Price started a recovery wave above the level of $ 2,550, such as Bitcoin. ETH was able to surpass the resistance levels of $ 2,600 and $ 2,620 to go to a positive zone in the short term.
The price was able to exceed the 50% FIB retracement level of the downward wave from the $ 3,400 swing high to $ 2,120 swing low. However, the bears seem to be active under the resistance levels of $ 2,880 and $ 2,920. The price moves lower again.
There was a break under an important bullish trend line with support for $ 2,800 on the hourly table ETH/USD. Ethereum price now trades under $ 2,800 and the 100-hour simple advancing average.
At the top the price seems to have to do with obstacles near the level of $ 2,770 and the 100-hour simple advancing average. The first major resistance is near the level of $ 2,800. The main resistance is now almost $ 2,920 or the 61.8% FIB retracement level of the downward wave of the $ 3,400 swing high to $ 2,120 swing low. A clear movement above the $ 2,920 resistance can send the price to $ 3,000 resistance.
An upward break above the $ 3,000 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 3,050 resistance zone or even $ 3,120 in the short term.
More losses in ETH?
If Ethereum did not know the resistance of $ 2,800, this can start a new decline. The first support on the disadvantage is near the level of $ 2,630. The first major support is near the $ 2,600 zone.
A clear movement under the support of $ 2,600 can push the price to $ 2,500 support. All losses can send the price in the short term to the support level of $ 2,420. The following key support is at $ 2,350.
Technical indicators
Hour MacD – The MACD for ETH/USD loses momentum in the bullish zone.
Hour RSI – The RSI for ETH/USD is now below 50 zone.
Major support level – $ 2,630
Large resistance level – $ 2,800