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Ethereum -price moves lower from the $ 2,800 zone. ETH can get Beerarish Momentum if it drops under the $ 2,650 support zone.
- Ethereum started a new decrease below the level of $ 2,720.
- The price trades under $ 2,700 and the 100-hour simple advancing average.
- There was a break under an important bullish trend line with support at $ 2,680 on the hourly table ETH/USD (data feed via Kraken).
- The couple can start a considerable upward movement if it settles above $ 2,700 and $ 2,720.
Ethereum -Price is falling again
Ethereum -Price tried a new increase above the level of $ 2,650, such as Bitcoin. ETH broke the resistance of $ 2,720, but it was unable to erase the $ 2,800 resistance zone.
A high was formed at $ 2,791 and the price started a new decrease. There was a movement under the support levels of $ 2,750 and $ 2,720. The price fell below the 50% FIB racement level of the upward movement of the $ 2,614 swing low to $ 2,791 high.
There was also a break under an important bullish trend line with support for $ 2,680 on the hourly table ETH/USD. Ethereum price is now traded under $ 2,700 and the 100-hour simple advancing average.
However, it now finds bids near the 76.4% FIB retracement level of the upward movement of the $ 2,614 Swing Low to $ 2,791 High. At the top the price seems to have to do with obstacles near the level of $ 2,680. The first major resistance is near the level of $ 2,720.
The most important resistance is now almost $ 2,780 or $ 2,800. A clear movement above the $ 2,800 resistance can send the price to $ 2,880 resistance. An upward break above the $ 2,880 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise in the short term to the $ 3,000 resistance zone or even $ 3,050.
More losses in ETH?
If Ethereum did not know the resistance of $ 2,720, this can start a new decline. The first support on the disadvantage is near the level of $ 2,655. The first major support is near the $ 2,615 zone.
A clear movement under the support of $ 2,615 can push the price to $ 2,550 support. All losses can send the price in the short term to the support level of $ 2,500. The following key support is $ 2,440.
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 – $ 2,650
Large resistance level – $ 2,720
