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Ethereum -Price remained supported above the level of $ 1,980. ETH is now consolidating and continues to run the risk of a downward break.
- Ethereum struggled to stay higher above the resistance level of $ 2,050.
- The price acts under $ 2,020 and the 100-hour simple advancing average.
- There is a connecting Bearish trend line that forms with resistance at $ 2,040 on the hour table of ETH/USD (data feed via Kraken).
- The couple must delete the resistance levels of $ 2,040 and $ 2,100 to start a considerable increase.
Ethereum -Price is falling again
Ethereum -price could not be higher than higher above $ 2,100 and some profit, such as Bitcoin. ETH fell under the support levels of $ 2,040 and $ 2,020.
It tested the $ 1,980 zone. A low point was formed at $ 1,982 and the price recently tried a new upward move. There was a movement above the level of $ 2,020. The price tested the 50% FIB racement level of the recent decrease of the $ 2,098 Swing high to $ 1,982 low.
Ethereum price now trades under $ 2,020 and the 100-hour simple advancing average. There is also a connecting Bearish trend line that forms with resistance at $ 2,040 on the ETH/USD card per hour.
At the top the price seems to have to do with obstacles near the level of $ 2,040. The following key resistance is near the level of $ 2,050 and the 61.8% FIB retracement level of the recent decrease of the $ 2,098 swing high to $ 1,982 low. The first major resistance is near the level of $ 2,095.
A clear movement above the $ 2,095 resistance can send the price to $ 2,150 resistance. An upward break above the $ 2,150 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,250 resistance zone or even $ 2,320 in the short term.
NadSpop in ETH?
If Ethereum did not know the resistance of $ 2,040, this can start a new decline. The first support on the other hand is near the level of $ 2,000. The first major support is near the $ 1,980 zone.
A clear movement under the support of $ 1,980 can push the price to $ 1,880 support. All losses can send the price in the short term to the support level of $ 1,820. The next key support is at $ 1,750.
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 – $ 1,980
Large resistance level – $ 2,040
