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Ethereum Price had difficulty staying higher above $ 3,220. ETH is now in consolidating losses and can experience resistance in the vicinity of the $ 3,220 zone.
- Ethereum started a new fall below $ 3,120 zone.
- The price trades under $ 3,180 and the 100-Urly simple advancing average.
- There is an important bearish trend line that forms with resistance at $ 3,220 on the hourly table of ETH/USD (data feed via Kraken).
- The couple can start a new decline if it remains below the $ 3,200 level.
Ethereum -Price is reserved
Ethereum -Price started a new decrease below $ 3,220 and $ 3,180 levels, such as Bitcoin. ETH even fell below the $ 3,050 level before the bulls appeared.
A low point was formed at $ 3,021 and the price recently corrected some losses. There was a movement above the levels of $ 3,120 and $ 3,150. The price climbed above the 23.6% FIB racement level of the downward movement of the $ 3,425 wing high to the $ 3,020 swing low.
However, the bears were active under the resistance of $ 3,200. Ethereum price is now being traded under $ 3,200 and the 100-Urly simple advancing average. There is also an important bearish trend line that forms with resistance at $ 3,220 on the hourly table ETH/USD.
At the top the price seems to have to do with obstacles near the level of $ 3,180. The first major resistance is near the level of $ 3,200 and the trend line. The main resistance is now almost $ 3,220 and the 50% FIB retracement level of the downward movement of the $ 3,425 wing high to $ 3,020 swing low.
A clear movement above the $ 3,220 resistance can send the price to the $ 3,320 resistance. An upward break above the $ 3,320 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 3,450 resistance zone or even $ 3,500 in the short term.
Another decline of ETH?
If Ethereum did not know the resistance of $ 3,200, this can start a new decline. The first support on the disadvantage is near the level of $ 3,0750. The first major support is near the $ 3,050.
A clear movement under the support of $ 3,050 can push the price to $ 3,020 support. All losses can send the price in the short term to the support level of $ 3,000. The following key support is $ 2,950.
Technical indicators
Hour MacD – The MACD for ETH/USD loses Momentum in the bearish zone.
Hour RSI – The RSI for ETH/USD is now above 50 zone.
Major support level – $ 3,050
Large resistance level – $ 3,220
