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Ethereum -price could not be higher above the $ 2,880 resistance. ETH is now moving lower and can continue to slide to the support of $ 2,320.
- Ethereum started a new decrease below the level of $ 2,700.
- The price trades under $ 2,700 and the 100-hour simple advancing average.
- There is a connecting Bearish trend line that forms with resistance to $ 2,680 on the hour table ETH/USD (data special via Kraken).
- The couple can start a new decline if it remains below the $ 2,700 level.
Ethereum price repair fades
Ethereum -Price started a recovery wave above the level of $ 2,650, such as Bitcoin. ETH was able to exceed the resistance levels of $ 2,700 and $ 2,750 to go to a positive zone in the short term.
However, the bears were active above $ 2,800 and the price started a decrease. There was a movement under the levels of $ 2,720 and $ 2,700. The price fell and tested the 50% FIB retracement level of the upward movement of the $ 2,127 Swing low to $ 2,923 high.
Ethereum price is now traded under $ 2,700 and the 100-hour simple advancing average. There is also a connecting Bearish trend line that forms with resistance at $ 2,680 on the ETH/USD card per hour.
At the top the price seems to have to do with obstacles near the level of $ 2,680 and the 100-hour simple advancing average. The first major resistance is near the level of $ 2,700. The most important resistance is now almost $ 2,880 or $ 2,920. 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 $ 2,700, this can start a new decline. The first support on the disadvantage is near the level of $ 2,525. The first major support is near the $ 2,440 zone.
A clear movement under the support of $ 2,440 can push the price to $ 2,320 support. All losses can send the price in the short term to the support level of $ 2,250. The following key support is at $ 2,120.
Technical indicators
Hour MacD – The MACD for ETH/USD is gaining strength in the bearish zone.
Hour RSI – The RSI for ETH/USD is now below 50 zone.
Large support level – $ 2,525
Large resistance level – $ 2,440