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Ethereum price started a recovery wave above $ 2,020 zone. ETH is now consolidating and is confronted with obstacles near the $ 2,080 resistance.
- Ethereum started a recovery wave above the level of $ 2,020.
- The price is traded above $ 2,025 and the 100-hour simple advancing average.
- There is a connecting bullish trend line that forms with support for $ 2,010 on the hourly table ETH/USD (data daai via Kraken).
- The couple must delete the resistance levels of $ 2,075 and $ 2,100 to start a considerable increase.
Ethereum -Price consolidates under the resistance
Ethereum -Price formed a base above the level of $ 1,880 and started a recovery wave, such as Bitcoin. ETH was able to erase the resistance levels of $ 1,950 and $ 1,980.
The bulls pushed the price above the $ 2,000 level. Finally, the price tested the $ 2,100 zone. A high was formed at $ 2,104 and the price started a downward correction. There was a movement below the level of $ 2,050. The price fell below the 23.6% FIB retracement level of the upward wave of $ 1,981 Swing low to the $ 2,104 high.
Ethereum price is now traded above $ 2,010 and the 100-hour simple advancing average. There is also a connecting bullish trend line that forms with support for $ 2,010 on the ETH/USD graph per hour.
At the top the price seems to have to do with obstacles near the level of $ 2,075. The next key resistance is near the level of $ 2,100. The first major resistance is near the level of $ 2,150. A clear movement above the $ 2,150 resistance can send the price to the $ 2,200 resistance.
An upward break above the $ 2,200 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,250 resistance zone or even $ 2,320 in the short term.
NadSpop in ETH?
If Ethereum did not know the resistance of $ 2,100, this can start a new decline. The first support on the disadvantage is near the level of $ 2,045. The first major support is near the $ 2,020 zone and the 61.8% FIB retracement level of the upward wave of the $ 1,981 Swing low to $ 2,104 High.
A clear movement under the support of $ 2,020 can push the price to the $ 2,010 support and the trend line. All losses can send the price in the short term to the support level of $ 1,965. The following key support is at $ 1,920.
Technical indicators
Hour MacD – The MACD for ETH/USD loses momentum in the bullish zone.
Hour RSI – The RSI for ETH/USD is now below 50 zone.
Large support level – $ 2,010
Large resistance level – $ 2,100