Ethereum -Price found support near the $ 3,400 zone and restored. ETH is struggling to settle above $ 3,700 and can dive again.
- Ethereum started a new increase of $ 3,440 and $ 3,500 levels.
- The price acts under $ 3,620 and the 100-hour simple advancing average.
- There was a break under an important bullish trend line with support at $ 3,620 on the hourly table ETH/USD (data feed via Kraken).
- The couple could start a new increase if it is supported in the short term above $ 3,500 zone.
Ethereum -Price drops under $ 3,600
Ethereum -Price started a new increase compared to the $ 3,365 support zone, where Bitcoin was defeated. ETH price was able to recover above the resistance levels of $ 3,400 and $ 3,500.
There was a movement above the 50% FIB retracement level of the downward movement of the $ 3,877 Swing high to $ 3,369 low. The bulls even pushed the price above the $ 3,700 resistance zone. De Beren, however, remained active in the vicinity of the $ 3,750 zone.
The 61.8% FIB retracement level of the downward movement of the $ 3,877 Swing high to $ 3,369 Low acted as a resistance. The price started a decrease of less than $ 3,700. There was a break under an important bullish trend line with support at $ 3,620 on the hourly table ETH/USD.
Ethereum price now trades under $ 3,600 and the 100-hour simple advancing average. At the top the price can experience the resistance near the level of $ 3,620. The next key resistance is near the level of $ 3,700.
The first major resistance is near the level of $ 3,750. A clear movement above the $ 3,750 resistance can send the price to $ 3,820 resistance. An upward break above the $ 3,820 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise in the short term to the $ 4,000 resistance zone or even $ 4,120.
More losses in ETH?
If Ethereum did not know the resistance of $ 3,620, this can start a new decline. The first support at the disadvantage is near the level of $ 3,550. The first major support is near the $ 3,510 zone.
A clear movement under the support of $ 3,510 can push the price to $ 3,420 support. All losses can send the price in the short term to the support level of $ 3,350. The following key support is at $ 3,220.
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 – $ 3,550
Large resistance level – $ 3,750