Ethereum -Price started a recovery wave from the $ 4,050 zone. ETH is now back above $ 4,220, but it is confronted with many obstacles near $ 4,400.
- Ethereum started a recovery wave above the levels of $ 4,150 and $ 4,220.
- The price acts under $ 4,350 and the 100-hour simple advancing average.
- There is a bearish trend line that forms with resistance at $ 4,355 on the hourly table of ETH/USD (data feed via Kraken).
- The couple can continue to move if it settles below $ 4,220 zone in the short term.
Ethereum -Price is reserved
Ethereum -price extended losses after there was an end below the level of $ 4,250, such as Bitcoin. ETH price achieved Beerarish Momentum and traded under the $ 4,150 support zone.
The bears could push the price under the $ 4,120 support zone. Finally, the price tested the $ 4,065 zone. A layer was formed at $ 4,065 and the price recently started a recovery wave above the 23.6% FIB racement level of the recent decrease of the $ 4,580 Swing high to $ 4,065 low.
However, the bears are active in the vicinity of the $ 4,350 zone and the 61.8% FIB retracement level of the recent decrease of the $ 4,580 Swing high to $ 4,065 low. There is also a bearish trend line that forms with resistance at $ 4,355 on the hourly table ETH/USD.
Ethereum price now trades under $ 4,355 and the 100-hour simple advancing average. At the top the price can experience the resistance near the level of $ 4,350. The next key resistance is near the level of $ 4,380.
The first major resistance is near the level of $ 4,460. A clear movement above the $ 4,460 resistance can send the price to the $ 4,500 resistance. An upward break above the $ 4,500 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 4,550 resistance zone or even $ 4,565 in the short term.
Another decline of ETH?
If Ethereum did not know the resistance of $ 4,380, it can continue to move. The first support on the disadvantage is near the level of $ 4,240. The first major support is near the $ 4,200 zone.
A clear movement under the support of $ 4,200 can push the price to $ 4,120 support. More losses can send the price in the short term to the support level of $ 4,050. The next important support is at $ 4,000.
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 – $ 4,220
Large resistance level – $ 4,380