Ethereum -Price started a new decrease below $ 4,500 zone. ETH is now trying a recovery and can be confronted with obstacles near the $ 4,400 zone.
- Ethereum is still struggling to recover above $ 4,500 zone.
- The price acts under $ 4,450 and the 100-hour simple advancing average.
- There is an important bearish trend line that forms with resistance at $ 4,380 on the hourly table ETH/USD (data daai via Kraken).
- The couple could start a considerable increase if there is an end in the short term above the level of $ 4,420.
Ethereum Price eyes upside down Pause
Ethereum -Price started a recovery wave after it had tested the $ 4,220 zone, such as Bitcoin. ETH price was able to climb above the resistance levels of $ 4,250 and $ 4,300.
The recent low point was formed at $ 4,258 and the price is now losing consolidation. It acts close to the 50% FIB racement level of the recent decrease of the $ 4,416 swing high to $ 4,258 low. A basis seems to be above the level of $ 4,250, but the bears can remain active near the $ 4,400 resistance zone.
Ethereum price is now being traded under $ 4,400 and the 100-hour simple advancing average. By the way, there is an important Bearish trend line that forms with resistance at $ 4,380 on the ETH/USD card per hour.
On the other hand, the price can be confronted with resistance near the $ 4,355 level or the 61.8% FIB retracement level of the recent decrease of the $ 4,416 Swing high to $ 4,258 low. The next key resistance is near the level of $ 4,380 and the trend line. The first major resistance is near the level of $ 4,415.
A clear movement above the $ 4,415 resistance can send the price to the $ 4,480 resistance. An upward break above the $ 4,480 resistance can request more profit in the coming sessions. In the declared case, Ether could rise to the $ 4,550 resistance zone or even $ 4,580 in the short term.
Another decline of ETH?
If Ethereum did not know the resistance of $ 4,415, it can continue to move. The first support on the disadvantage is near the level of $ 4,250. The first major support is near the $ 4,220 zone.
A clear movement under the support of $ 4,220 can push the price to $ 4,165 support. All losses can send the price in the short term to the support level of $ 4,120. The following key support is at $ 4,050.
Technical indicators
Hour MacD – The MACD for ETH/USD loses momentum in the bullish zone.
Hour RSI – The RSI for ETH/USD is now near the 50 zone.
Major support level – $ 4,250
Large resistance level – $ 4,415