Ethereum -Price started a new decrease of less than $ 4,120. ETH is struggling now and can fall further if it breaks the $ 4,050 support zone.
- Ethereum failed to extend the profits and dropped below $ 4,150 zone.
- The price acts under $ 4,150 and the 100-hour simple advancing average.
- There is an important bearish trend line that forms with resistance at $ 4,360 on the hourly table of ETH/USD (data feed via Kraken).
- The couple can continue to go down if it settles under $ 4,050 and $ 4,000.
Ethereum -Price is falling again
Ethereum -Price remained in a bearish zone after it was established less than $ 4,450, such as Bitcoin. ETH price fell under the support levels of $ 4,320 and $ 4,300.
The bears even pushed the price below $ 4,120. A low point was formed at $ 4,000 and the price recently started a small wave of recovery. There was a movement above the 23.6% FIB retracement level of the downward wave of $ 4,635 Swing high to $ 4,000 low.
De Beren, however, remained active in the vicinity of the $ 4,250 resistance zone and pushed the price lower again. Ethereum price is now traded under $ 4,150 and the 100-hour simple advancing average. Moreover, there is an important bearish trend line that forms with resistance at $ 4,360 on the ETH/USD graph per hour.
At the top the price can experience the resistance near the level of $ 4,150. The next key resistance is near the level of $ 4,220. The first major resistance is near the level of $ 4,250. A clear movement above the $ 4,250 resistance can send the price to the $ 4,350 resistance and the trend line.
An upward break above the $ 4,360 region can request more profit in the upcoming sessions. In the indicated case, Ether could rise to the $ 4,450 resistance zone or even $ 4,550 in the short term.
Disadvantage in ETH?
If Ethereum did not know the resistance of $ 4,220, this can start a new decline. The first support on the disadvantage is near the level of $ 4,050. The first major support is near the $ 4,000 zone.
A clear movement under the support of $ 4,000 can push the price to the $ 3,880 support. More losses can send the price in the short term to the $ 3,820 region. The following key support is at $ 3,750.
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 – $ 4,050
Main resistance level – $ 4,220