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Ethereum -Price started a new decrease of the $ 2,620 resistance zone. ETH is now being traded under $ 2,580 and can stay down.
- Ethereum started a downward correction below the level of $ 2,600.
- The price acts under $ 2,600 and the 100-hour simple advancing average.
- There was a break over an important bearish trend line with resistance at $ 2,500 on the hourly table ETH/USD (data feed via Kraken).
- The couple could extend losses if it is traded below $ 2,470 support zone in the short term.
Ethereum -Price is falling again
Ethereum -Price started a new decrease in the $ 2,650 support zone, such as Bitcoin. ETH price could not reclaim losses and extended its decrease below the level of $ 2,600.
The price even dropped below the level of $ 2,550. A low point was formed at $ 2,470 and the price is now losing consolidation. There was a movement above the level of $ 2,500. By the way, there was a break over an important bearish trend line with resistance at $ 2,500 on the ETH/USD card per hour.
The price tested the 23.6% FIB racement level of the downward movement of the $ 2,787 Swing high to $ 2,470 low. Ethereum price is now traded under $ 2,600 and the 100-hour simple advancing average.
At the top the price can experience the resistance near the level of $ 2,550. The next key resistance is near the level of $ 2,600. The first major resistance is near the level of $ 2,620. It is close to the 50% FIB racement level of the downward movement of the $ 2,787 Swing high to the $ 2,470 low. A clear movement above the $ 2,620 resistance can send the price to $ 2,720 resistance.
An upward break above the $ 2,720 resistance can request more profit in the coming sessions. In the declared case, Ether could rise to the $ 2,780 resistance zone or even $ 2,880 in the short term.
More losses in ETH?
If Ethereum did not know the resistance of $ 2,600, this can start a new decline. The first support at the disadvantage is near the level of $ 2,500. The first major support is near the $ 2,470 zone.
A clear movement under the support of $ 2,470 can push the price to $ 2,420 support. All losses can send the price in the short term to the support level of $ 2,350. The following key support is at $ 2,320.
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.
Large support level – $ 2,470
Large resistance level – $ 2,600