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Ethereum -Price started a new decrease in the $ 2,780 resistance zone. ETH is now traded under $ 2,650 and can stay down.
- Ethereum started a downward correction below the level of $ 2,700.
- The price trades under $ 2,650 and the 100-hour simple advancing average.
- There was a break under an important bullish trend line that formed with support at $ 2,625 on the hourly table ETH/USD (data daai via Kraken).
- The couple can increase losses if it is traded below $ 2,550 support zone in the short term.
Ethereum -Price is falling again
Ethereum -Price started a new increase compared to the $ 2,550 support zone, where Bitcoin was defeated. ETH price was able to repair above $ 2,650 and $ 2,750 resistance levels before the bears appeared.
A high was formed at $ 2,787 and the price now corrects profits. There was a movement below the support level of $ 2,700. The price fell below the 50% FIB retracement level of the upward movement of the $ 2,463 swing low to $ 2,787 high.
Ethereum price is now being traded under $ 2,650 and the 100-Urly simple advancing average. By the way, there was a break under an important bullish trend line that formed with support for $ 2,625 on the ETH/USD card per hour.
At the top the price can experience the resistance near the level of $ 2,625. The next key resistance is near the level of $ 2,650. The first major resistance is near the level of $ 2,720. A clear movement above the $ 2,720 resistance can send the price to $ 2,780 resistance.
An upward break above the $ 2,780 resistance can request more profit in the coming sessions. In the declared case, Ether could rise to the $ 2,880 or even $ 2,950 resistance zone in the short term.
More losses in ETH?
If Ethereum did not know the resistance of $ 2,650, this can start a new decline. The first support at the disadvantage is near the level of $ 2,600. The first major support is near the $ 2,550 zone. It is close to the 76.4% FIB racement level of the upward movement of the $ 2,463 Swing low to the $ 2,787 high.
A clear movement under the support of $ 2,550 can push the price to $ 2,500 support. All losses can send the price in the short term to the support level of $ 2,440. The following key support is $ 2,400.
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 – $ 2,550
Large resistance level – $ 2,650