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Ethereum -Price started a new decrease in the $ 1,690 zone. ETH is now consolidating and can fall further under the $ 1,580 support zone.
- Ethereum started a new decline after it could not be achieved to erase $ 1,700 and $ 1,720.
- The price trades under $ 1,620 and the 100-hour simple advancing average.
- There was a break under a new connecting bullish trend line with support for $ 1,625 on the hourly table ETH/USD (data special via Kraken).
- The couple can start a new increase if it knew the $ 1,640 resistance zone.
Ethereum -price stands for rejection
Ethereum -Price formed a base above $ 1,550 and started a new increase, such as Bitcoin. ETH was given pace for a movement above the resistance levels of $ 1,600 and $ 1,620.
The bulls even pumped the price above $ 1,650 zone. A high was formed at $ 1,690 and the prize recently corrected profit. There was a movement under the $ 1,640 support zone. By the way, there was a break under a new connecting bullish trend line with support for $ 1,625 on the ETH/USD card per hour.
The price tested the 50% FIB racement level of the upward movement of the $ 1,472 Swing low to the $ 1,690 high. Ethereum price is now being traded under $ 1,625 and the 100-hour simple advancing average.
At the top the price seems to have to do with obstacles near the level of $ 1,620. The next key resistance is near the level of $ 1,640. The first major resistance is near the level of $ 1,650. A clear movement above the $ 1,650 resistance can send the price to $ 1,690 resistance.
An upward break above the $ 1,690 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 1,750 resistance zone or even $ 1,800 in the short term.
More losses in ETH?
If Ethereum did not know the resistance of $ 1,640, this can start a new decline. The first support at the disadvantage is near the level of $ 1,580. The first major support is near the $ 1,555 zone and the 61.8% FIB retracement level of the upward movement of the $ 1,472 Swing low to $ 1,690 high.
A clear movement under the support of $ 1,555 can push the price to $ 1,525 support. All losses can send the price in the short term to the support level of $ 1,450. The following key support is at $ 1,420.
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.
Large support level – $ 1,580
Large resistance level – $ 1,640
