Ethereum -Price started a new recovery wave above $ 4,300 zone. ETH is still struggling to get Momentum and can slide less than $ 4,250.
- Ethereum is still struggling to recover above $ 4,450 zone.
- The price acts under $ 4,400 and the 100-hour simple advancing average.
- There is a connecting Bearish trend line that forms with resistance at $ 4,370 on the hour table ETH/USD (data daai via Kraken).
- The couple could start a considerable increase if there is an end in the short term above the level of $ 4,450.
Ethereum price repair is confronted with obstacles
Ethereum -Price started a recovery wave after it formed a basis above $ 4,220 zone, such as Bitcoin. ETH price was able to climb above the resistance levels of $ 4,300 and $ 4,350 before the bears appeared.
The recent low point was formed at $ 4,269 and the price is now losing consolidation. There was a small increase above the 23.6% FIB retraction level of the recent decrease of the $ 4,488 swing high to $ 4,269 low. However, the Bulls are confronted with a heavy task near $ 4,400.
By the way, there is a connecting Bearish trend line that forms with resistance at $ 4,370 on the ETH/USD card per hour. Ethereum price is now being traded under $ 4,350 and the 100-hour simple advancing average. At the top the price can experience the resistance near the level of $ 4,350.
The following key resistance is close to the level of $ 4,370 or the trend line and the 50% FIB retracement level of the recent decrease of the $ 4,488 Swing high to $ 4,269 low. The first major resistance is near the level of $ 4,450. A clear movement above the $ 4,450 resistance can send the price to the $ 4,500 resistance. An upward break above the $ 4,500 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 4,550 resistance zone or even $ 4,620 in the short term.
More losses in ETH?
If Ethereum did not know the resistance of $ 4,450, this can start a new decline. The first support on the disadvantage is near the level of $ 4,280. The first major support is near the $ 4,250 zone.
A clear movement under the support of $ 4,250 can push the price to $ 4,215 support. All losses can send the price in the short term to the support level of $ 4,160. The following key support is at $ 4,120.
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.
Major support level – $ 4,215
Main resistance level – $ 4,450