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Ethereum -Price consolidates above $ 2,500 zone. ETH can get bullish momentum if it knew the $ 2,700 resistance zone.
- Ethereum started a new decrease below the level of $ 2,650.
- The price acts under $ 2,680 and the 100-hour simple advancing average.
- There is a connecting Bearish trend line that forms with resistance at $ 2,690 on the hourly table of ETH/USD (data feed via Kraken).
- The couple can start a considerable upward movement if it settles above $ 2,700 and $ 2,735.
Ethereum Price eyes upside down Pause
Ethereum -Price started a new decrease under the $ 2,800 support zone, such as Bitcoin. ETH decreased under the support levels of $ 2,750 and $ 2,700 to go to a bearish zone in the short term.
The price fell and tested the 50% FIB retracement level of the upward wave of the $ 2,125 swing low to the $ 2,922 high. Finally, it was supported by the $ 2,500 zone. The price is now consolidating and seems to form a basis above the level of $ 2,500.
Ethereum price now trades under $ 2,680 and the 100-hour simple advancing average. There is also a connecting Bearish trend line that forms with resistance at $ 2,690 on the ETH/USD card per hour.
At the top the price seems to have to do with obstacles near the level of $ 2,680. The first major resistance is near the level of $ 2,735. The most important resistance is now almost $ 2,800 or $ 2,820. A clear movement above the $ 2,820 resistance can send the price to $ 2,920 resistance.
An upward break above the $ 2,920 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise in the short term to the $ 3,000 resistance zone or even $ 3,050.
Another drop in ETH?
If Ethereum did not know the resistance of $ 2,700, this can start a new decline. The first support at the disadvantage is near the level of $ 2,550. The first major support is near the $ 2,520 zone.
A clear movement under the support of $ 2,520 can push the price to support $ 2,440 or the 61.8% FIB retracement level of the upward wave of the $ 2,125 waving low to the high of $ 2,922. All losses can send the price in the short term to the support level of $ 2,365. The following key support is at $ 2,250.
Technical indicators
Hour MacD – The MACD for ETH/USD loses Momentum in the bearish zone.
Hour RSI – The RSI for ETH/USD is now below 50 zone.
Large support level – $ 2,525
Large resistance level – $ 2,700