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Ethereum -Price started a new decrease below $ 2,550 zone. ETH now shows a pair of bearish signs below the $ 2,500 rotary level.
- Ethereum started a new fall below the level of $ 2,550.
- The price is traded above $ 2,500 and the 100-hour simple advancing average.
- There was a break under an important rising channel with support at $ 2,610 on the hourly table ETH/USD (data daai via cracking).
- The couple could extend losses if it is traded under the $ 2,400 support zone in the short term.
Ethereum -Price consolidates losses
Ethereum -Price started a new decrease after it had not surpassed $ 2,650, such as Bitcoin. ETH price fell under the support levels of $ 2,565 and $ 2,550.
By the way, there was a break under an important rising channel with support at $ 2,610 on the hourly table ETH/USD. The couple even fell below the support level of $ 2,500. A low point was formed at $ 2,394 and the price is now losing consolidation.
Ethereum price is now traded under $ 2,500 and the 100-hour simple advancing average. At the top the price can experience the resistance near the level of $ 2,460. It is close to the 23.6% FIB racement level of the downward movement of the $ 2,680 Swing high to $ 2,394 low.
The next key resistance is near the level of $ 2,500. The first major resistance is near the level of $ 2,540. It is close to the 50% FIB racement level of the downward movement of the $ 2,680 Swing high to $ 2,394 low. A clear movement above the $ 2,540 resistance can send the price to the $ 2,600 resistance.
An upward break above the $ 2,600 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,650 resistance zone or even $ 2,720 in the short term.
More losses in ETH?
If Ethereum did not know the resistance of $ 2,500, this can start a new decline. The first support at the disadvantage is near the level of $ 2,400. The first major support is near the $ 2,380 zone.
A clear movement under the support of $ 2,380 can push the price to $ 2,350 support. All losses can send the price in the short term to the support level of $ 2,320. The following key support is at $ 2,250.
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 – $ 2,320
Large resistance level – $ 2,500