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Ethereum -Price could not delete the resistance of $ 2,320 and trimmed profits. ETH is now consolidating and is confronted with obstacles near the resistance of $ 2,220.
- Ethereum started a new upward movement above the $ 2,120 support zone.
- The price acts under $ 2,220 and the 100-hour simple advancing average.
- There was a break under an important rising channel with support at $ 2,220 on the hourly table ETH/USD (data feed via cracking).
- The couple must delete the resistance levels of $ 2,220 and $ 2,320 to start a considerable increase.
Ethereum -Price is falling again
Ethereum -Price started a considerable increase compared to the $ 2,000 zone, such as Bitcoin. ETH climbed above the resistance levels of $ 2,120 and $ 2,200. De Beren, however, were active in the vicinity of $ 2,320 and pushed the price back under $ 2,220.
There was a break under an important rising channel with support at $ 2,220 on the hourly table ETH/USD. A low point was formed at $ 2,103 and the price is now trying a recovery wave. There was a movement above the resistance levels of $ 2,120 and $ 2,150.
It knew the 23.6% FIB racement level of the downward movement of the $ 2,319 Swing high to the $ 2,103 low. Ethereum price is now traded under $ 2,220 and the 100-hour simple advancing average.
At the top the price seems to have to do with obstacles near the level of $ 2,220. It is close to the 50% FIB racement level of the downward movement of the $ 2,319 swing high to $ 2,103 low. The next key resistance is near the level of $ 2,275.
The first major resistance is near the level of $ 2,320. A clear movement above the $ 2,320 resistance can send the price to $ 2,420 resistance. An upward break above the $ 2,420 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,500 resistance zone or even $ 2,550 in the short term.
Another drop in ETH?
If Ethereum did not know the resistance of $ 2,220, this can start a new decline. The first support at the disadvantage is near the level of $ 2,100. The first major support is near the $ 2,050 zone.
A clear movement under the support of $ 2,050 can push the price to $ 2,000 support. More losses can send the price to the $ 1,880 support level in the short term. The next key support is $ 1,740.
Technical indicators
Hour MacD – The MACD for ETH/USD loses momentum in the bullish zone.
Hour RSI – The RSI for ETH/USD is now below 50 zone.
Major support level – $ 2,100
Large resistance level – $ 2,220
