Ethereum -Price started a close correction of the $ 3,850 zone. ETH is now moving lower, but may find bids near the $ 3,520 support zone.
- Ethereum started a downward correction below the level of $ 3,770.
- The price acts under $ 3,680 and the 100-Urly simple advancing average.
- There is an important bearish trend line that forms with resistance at $ 3,670 on the hourly table of ETH/USD (data feed via Kraken).
- The couple could start a new increase if it is supported in the short term above $ 3,550 zone.
Ethereum -Price has support
Ethereum -Price could not extend the profits above the level of $ 3,850 and started a downward correction, such as Bitcoin. ETH price traded under the support levels of $ 3,800 and $ 3,770.
There was a movement below the 50% FIB racement level of the upward movement of the $ 3,480 Swing low to $ 3,859 high. The decrease was such that the price even below the level of $ 3,660 and the 100-hour simple advancing average.
However, the bulls were active in the vicinity of the 76.4% FIB retracement level of the upward movement of the $ 3,480 Swing low to $ 3,859 high. Ethereum price is now being traded under $ 3,680 and the 100-hour simple advancing average.
At the top the price can experience the resistance near the level of $ 3,670. There is also an important bearish trend line that forms with resistance at $ 3,670 on the ETH/USD card per hour. The next key resistance is near the level of $ 3,770. The first major resistance is near the level of $ 3,800. A clear movement above the $ 3,800 resistance can send the price to $ 3,850 resistance.
An upward break above the $ 3,850 resistance can request more profit in the upcoming sessions. In the indicated case, Ether could rise to the $ 4,000 resistance zone or even $ 4,200 in the short term.
Another decline of ETH?
If Ethereum did not know the resistance of $ 3,670, this can start a downward correction. The first support on the disadvantage is near the level of $ 3,600. The first major support is near the $ 3,570 zone.
A clear movement under the support of $ 3,570 can push the price to $ 3,520 support. More losses can send the price in the short term to the support level of $ 3,450. The following key support is at $ 3,320.
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 – $ 3,520
Large resistance level – $ 3,670