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Ethereum -Price started a new decrease in the $ 2,550 zone. ETH is now back below $ 2,200 and can decrease further in the short term.
- Ethereum started a new decrease below $ 2,350 support zone.
- The price acts under $ 2,250 and the 100-hour simple advancing average.
- There is a new Bearish trend line that forms with resistance at $ 2,160 on the hourly table ETH/USD (data special via Kraken).
- The couple must erase the resistance levels of $ 2,160 and $ 2,250 to start a recovery wave.
Ethereum -Price dives 15%
Ethereum -Price could not delete the $ 2,550 resistance zone and started a new decrease, such as Bitcoin. ETH received a bearish momentum under the support levels of $ 2,400 and $ 2,350.
There was a clear movement below $ 2,250 support zone and the 100-Urly simple advancing average. The price even dived under the last low point and tested the $ 2,000 zone. A low point was formed at $ 2,003 and the price is now losing losing below the 23.6% FIB retracement level of the recent decrease of the $ 2,550 Swing high to the $ 2,003 low.
Ethereum price now trades under $ 2,250 and the 100-hour simple advancing average. At the top the price seems to have to do with obstacles near the level of $ 2,080. The first major resistance is near the level of $ 2,150.
There is also a new Bearish trend line that forms with resistance at $ 2,160 on the ETH/USD card per hour. The most important resistance is now near $ 2,275 and the 50% FIB retracement level of the recent decrease of the $ 2,550 swing high to the $ 2,003 low.
A clear movement above the $ 2,275 resistance can send the price to $ 2,350 resistance. An upward break above the $ 2,350 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,450 resistance zone or even $ 2,500 in the short term.
Another decline of ETH?
If Ethereum did not know the resistance of $ 2,160, this can start a new decline. The first support at the disadvantage is near the level of $ 2.020. The first major support is near the $ 2,000 zone.
A clear movement under the support of $ 2,000 can push the price to the $ 1,880 support. All losses can send the price in the short term to the support level of $ 1,750. The following key support is at $ 1,640.
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 – $ 2,000
Large resistance level – $ 2,160
