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Ethereum Price had difficulty staying higher above $ 3,220 and immersed. ETH is now in consolidating losses and can experience resistance in the vicinity of the $ 3,200 zone.
- Ethereum started a new fall below $ 3,150 zone.
- The price trades under $ 3,200 and the 100-hour simple advancing average.
- There is an important bearish trend line that forms with resistance at $ 3,250 on the hourly table of ETH/USD (data feed via Kraken).
- The couple can start a new decline if it remains below the level of $ 3,220.
Ethereum -Price is falling again
Ethereum -Price started a new decrease below $ 3,250 and $ 3,200 levels, such as Bitcoin. ETH even fell below the $ 3,050 level before the bulls appeared.
A low point was formed at $ 3,021 and the price recently corrected some losses. There was a movement above the levels of $ 3,120 and $ 3,150. The price surpassed the 23.6% FIB retracement level of the downward wave of the $ 3,425 swing high to $ 3,021 low.
De Beren, however, were active near the resistance of $ 3,220. Ethereum price is now being traded under $ 3,200 and the 100-Urly simple advancing average. There is also an important bearish trend line that forms with resistance at $ 3,250 on the hour table ETH/USD.
At the top the price seems to have to do with obstacles near the level of $ 3,150. The first major resistance is near the level of $ 3,220, the trend line and the 50% FIB retracement level of the downward wave of the $ 3,425 swing high to $ 3,021 layer.
The most important resistance is now almost $ 3,270. A clear movement above the $ 3,270 resistance can send the price to $ 3,350 resistance. An upward break above the $ 3,350 resistance can request more profit in the upcoming sessions. In the indicated case, Ether could rise to the $ 3,420 resistance zone or even $ 3,500 in the short term.
More losses in ETH?
If Ethereum did not know the resistance of $ 3,220, this can start a new decline. The first support at the disadvantage is near the level of $ 3,050. The first major support is near the $ 3,020.
A clear movement under the support of $ 3,020 can push the price to $ 3,000 support. More losses can send the price in the short term to the support level of $ 2,950. The following key support is $ 2,880.
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.
Major support level – $ 3,050
Large resistance level – $ 3,020
