Ethereum -price struggles under the resistance of $ 3,400. ETH shows a pair of Bearish -drawing and can decrease under the support of $ 3,150.
- Ethereum did not succeed in getting pace for a near $ 3,350 and $ 3,400.
- The price trades under $ 3,300 and the 100-hour simple advancing average.
- There was a break under an important contracting triangle with support at $ 3,270 on the hourly table ETH/USD (data daai via Kraken).
- The couple can start a new increase if it remains above the support level of $ 3,120.
Ethereum -Price interruptions Support
Ethereum -Prize started a decent upward step of the level of $ 3,220, but the benefits were limited compared to Bitcoin. ETH knew the $ 3,300 resistance before the bears appeared.
A high was formed at $ 3,361 and the price is now lower. There was a movement under the support levels of $ 3,250 and $ 3,220. By the way, there was a break under an important contract triangle with support for $ 3,270 on the ETH/USD graph per hour.
A low point was formed at $ 3,201 and the price is now consolidating. Ethereum price now trades under $ 3,300 and the 100-hour simple advancing average. At the top the price seems to have to do with obstacles near the $ 3,280 level or the 50% FIB retracement level of the downward movement of the $ 3,363 Swing high to $ 3,201 low.
The first major resistance is near the $ 3,300 level or the 61.8% FIB retracement level of the downward movement of the $ 3,363 Swing high to $ 3,201 low. The most important resistance is now almost $ 3,350.
A clear movement above the $ 3,350 resistance can send the price to the $ 3,450 resistance. An upward break above the $ 3,450 resistance can request more profit in the upcoming sessions. In the indicated case, Ether could rise to the $ 3,550 resistance zone or even $ 3,580 in the short term.
More losses in ETH?
If Ethereum did not know the resistance of $ 3,300, this can start a new decline. The first support on the disadvantage is near the level of $ 3,200. The first major support is near the $ 3,150.
A clear movement under the support of $ 3,150 can push the price to $ 3,120 support. All losses can send the price in the short term to the support level of $ 3,050. The next key support is at $ 3,000.
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 – $ 3,200
Large resistance level – $ 3,300
