Ethereum – Price tries recovery – Can it break $ 2,500?

Ethereum -Price started a new decrease in the $ 2,550 resistance zone. ETH has fallen more than 10% and is now trying a recovery wave of the $ 2,300 zone.

• Ethereum is confronted with an increase in sale below the $ 2,550 zone.
• The price trades under $ 2,550 and the 100-hour simple advancing average.
• There is a bearish trend line in the short term that forms with resistance to $ 2,500 on the hourly table ETH/USD (data feed via Kraken).
• The couple can start a considerable upward movement if it settles above $ 2,500 and $ 2,550.

Ethereum -Price dives more than 10%

Ethereum -Price could not delete the $ 2,650 resistance zone and started a new decrease, such as Bitcoin. ETH won pace under the support levels of $ 2,620 and $ 2,550 to enter a Bearish zone.

The price fell more than 10% and even fell under the $ 2,500 support zone. A low point was formed at $ 2,309 and the price is now consolidating. There was a small recovery wave above the 23.6% FIB retracement level of the downward movement of the $ 2,855 swing high to $ 2,309 low.

Ethereum price now trades under $ 2,550 and the 100-hour simple advancing average. There is also a bearish trend line in the short term that forms with resistance to $ 2,500 on the ETH/USD card per hour.

At the top the price seems to have to do with obstacles near the level of $ 2,500. The first major resistance is near the $ 2,580 level or the 50% FIB retracement level of the downward movement of the $ 2,855 Swing high to $ 2,309 low.

The most important resistance is now almost $ 2,650. A clear movement above the $ 2,650 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 indicated case, Ether could rise to the $ 2,850 resistance zone or even $ 2,920 in the short term.

Another decline of ETH?

If Ethereum did not know the resistance of $ 2,580, this can start a new decline. The first support on the disadvantage is near the level of $ 2,420. The first major support is near the $ 2,350 zone.

A clear movement under the support of $ 2,350 can push the price to $ 2,300 support. More losses can send the price in the short term to the support level of $ 2,200. The following key support is at $ 2,120.

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.

Large support level – $ 2,420

Large resistance level – $ 2,580