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Ethereum -Price started a new fall below $ 2,350 zone. ETH now corrects some losses of $ 2,000 support and can be confronted with obstacles.
- Ethereum started a new decrease below $ 2,320 support zone.
- The price acts under $ 2,220 and the 100-hour simple advancing average.
- There was a break above a connecting bearish trend line with resistance at $ 2,080 on the ETH/USD per hour (data feed via Kraken).
- The couple must delete the resistance levels of $ 2,230 and $ 2,275 to start a considerable increase.
Ethereum Price finds support for $ 2,000
Ethereum -Price started a new decrease in the $ 2,550 resistance zone, such as Bitcoin. ETH received a bearish Momentum under the support levels of $ 2,420 and $ 2,350.
There was a clear movement below $ 2,220 support zone and the 100-hour simple advancing average. The price even tested the $ 2,000 zone. A low point was formed at $ 2,003 and the price is now trying to restore above the 23.6% FIB retracement level of the downward movement of the $ 2,550 swing high to $ 2,003 low.
There was a break over a connecting bearish trend line with resistance at $ 2,080 on the ETH/USD card per hour. 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. The first major resistance is near the level of $ 2,275 and the 50% FIB retracement level of the downward movement of the $ 2,550 Swing high to the $ 2,003 low.
A clear movement above the $ 2,275 resistance can send the price to $ 2,350 resistance. An upward break above the $ 2,350 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,450 resistance zone or even $ 2,500 in the short term.
Another drop in ETH?
If Ethereum did not know the resistance of $ 2,275, this can start a new decline. The first support at the disadvantage is near the level of $ 2,130. The first major support is near the $ 2,080 zone.
A clear movement under the support of $ 2,080 can push the price to $ 2,020 support. More losses can send the price in the short term to the support level of $ 2,000. The following key support is $ 1,880.
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 – $ 2,080
Large resistance level – $ 2,275
