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Ethereum -Price could not delete the resistance of $ 2,120 and have trimmed profits. ETH is now consolidating and is confronted with obstacles near the $ 2,000 resistance.
- Ethereum started a new decrease under the most important support for $ 2,000.
- The price acts under $ 2,000 and the 100-hour simple advancing average.
- There is a short-term decrease from channel that forms with resistance at $ 1,880 on the ETH/USD graph per hour (data feed via cracking).
- The couple must delete the resistance levels of $ 1,880 and $ 1,950 to start a considerable increase.
Ethereum -Price will fall further
Ethereum -Price started a new decrease in $ 2,120 resistance, such as Bitcoin. ETH fell under the support of $ 2,000 to enter a bearish zone.
The bears were given strength for a movement under the support of $ 1,880. The bulls finally appeared near the $ 1,750 zone. A low point was formed at $ 1,753 and the price is now trying a recovery wave. There was a movement above the resistance levels of $ 1,800 and $ 1,820.
It knew the 23.6% FIB racement level of the downward movement of the $ 2,152 Swing high to $ 1.753 low. Ethereum price is now traded under $ 2,000 and the 100-hour simple advancing average.
At the top the price seems to be confronted with obstacles near the level of $ 1,880. There is also a short-term decrease from channel that forms with resistance to $ 1,880 on the ETH/USD card per hour. The next key resistance is near the level of $ 1,950.
The FIB racement level of 50% of the downward movement of the $ 2,152 Swing high to the $ 1,753 Low is also near the $ 1,950 level. The first major resistance is near the level of $ 2,000. A clear movement above the $ 2,000 resistance can send the price to $ 2,120 resistance.
An upward break above the $ 2,120 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,250 resistance zone or even $ 2,350 in the short term.
Another drop in ETH?
If Ethereum did not know the resistance of $ 1,880, this can start a new decline. The first support on the disadvantage is near the level of $ 1,800. The first major support is near the $ 1,750 zone.
A clear movement under the support of $ 1,750 can push the price to $ 1,680 support. More losses can send the price in the short term to the support level of $ 1,620. The following key support is at $ 1,550.
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.
Major support level – $ 1,750
Large resistance level – $ 1,880
