Ethereum -Price started a recovery wave above $ 4,150 zone. ETH is now back above $ 4,250, but it is confronted with many obstacles near $ 4,300.
- Ethereum started a recovery wave above the levels of $ 4,200 and $ 4,250.
- The price acts under $ 4,320 and the 100-hour simple advancing average.
- There is a bearish trend line that forms with resistance to $ 4,300 on the hour table of ETH/USD (data feed via Kraken).
- The couple can continue to go down if it settles below $ 4,180 zone in the short term.
Ethereum -Price is confronted with obstacles
Ethereum -price extended losses after there was an end below the level of $ 4,200, such as Bitcoin. ETH price achieved Beerarish Momentum and traded under the $ 4,110 support zone.
The bears could push the price under the $ 4,080 support zone. Finally, the price tested the $ 4,065 zone. A layer was formed at $ 4,065 and the price recently started a recovery wave above the 23.6% FIB racement level of the recent decrease of the $ 4,580 Swing high to $ 4,065 low.
The price could not release the $ 4,350 zone and the 61.8% FIB racement level of the recent decrease of the $ 4,580 Swing high to $ 4,065 Low. There is also a bearish trend line that forms with resistance at $ 4,300 on the hourly table ETH/USD.
Ethereum price is now traded under $ 4,300 and the 100-hour simple advancing average. At the top the price can experience the resistance near the level of $ 4,300. The next key resistance is near the level of $ 4,350.
The first major resistance is near the level of $ 4,385. A clear movement above the $ 4,385 resistance can send the price to $ 4,450 resistance. An upward break above the $ 4,450 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 4,500 resistance zone or even $ 4,550 in the short term.
Another drop in ETH?
If Ethereum did not know the resistance of $ 4,300, it can continue to move. The first support at the disadvantage is near the level of $ 4,220. The first major support is near the $ 4,180 zone.
A clear movement under the support of $ 4,180 can push the price to $ 4,120 support. All losses can send the price in the short term to the support level of $ 4,065. The next important support is at $ 4,000.
Technical indicators
Hour MacD – The MACD for ETH/USD loses Momentum in the bearish zone.
Hour RSI – The RSI for ETH/USD is now above 50 zone.
Major support level – $ 4,180
Large resistance level – $ 4,385