Ethereum -Price started a new decrease in the $ 4,700 zone. ETH now shows Beerarish -drawing and Beerarish Momentum can get if it drops below $ 4,400.
- Ethereum is still struggling to settle above $ 4,630 zone.
- The price acts under $ 4,550 and the 100-hour simple advancing average.
- There was a break under a bullish trend line with support at $ 4,550 on the hourly table ETH/USD (data feed via Kraken).
- The couple could extend and dive if there is less than $ 4,400 in the short term.
Ethereum -Price is falling again
Ethereum -Price started a recovery wave after it had tested the $ 4,320 zone, such as Bitcoin. ETH price was able to climb above the resistance levels of $ 4,400 and $ 4,450.
The price exceeded the 23.6% FIB retracement level of the most important decrease of the $ 4,955 Swing high to $ 4,310 low. De Beren, however, remained active in the vicinity of the $ 4,630 resistance zone. There were two attempts, but the bulls could not get strength.
The 50% FIB racement level of the key decrease of the $ 4,955 Swing high to $ 4,310 Low acts as a barrier. The price responded to the disadvantage below $ 4,600. By the way, there was a break under a bullish trend line with support for $ 4,550 on the ETH/USD list per hour.
Ethereum price is now being traded under $ 4,550 and the 100-hour simple advancing average. At the top the price can experience the resistance near the level of $ 4,550. The next key resistance is near the level of $ 4,600. The first major resistance is near the level of $ 4,630.
A clear movement above the $ 4,630 resistance can send the price to $ 4,720 resistance. An upward break above the $ 4,720 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 4,800 resistance zone or even $ 4,880 in the short term.
More losses in ETH?
If Ethereum did not know the resistance of $ 4,550, it can continue to move. The first support on the disadvantage is near the level of $ 4,440. The first major support is near the $ 4,400 zone.
A clear movement under the support of $ 4,400 can push the price to $ 4,320 support. More losses can send the price in the short term to the support level of $ 4,250. The following key support is at $ 4,150.
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.
Major support level – $ 4,400
Large resistance level – $ 4,550