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Ethereum -Price tried a recovery wave above the level of $ 1,820 but failed. ETH is now in consolidating losses and can experience resistance near the $ 1,840 zone.
- Ethereum did not stay above the levels of $ 1,850 and $ 1,840.
- The price acts under $ 1,840 and the 100-hour simple advancing average.
- There is a bearish trend line in the short term that forms with resistance to $ 1,810 on the hourly table ETH/USD (data feed via Kraken).
- The couple must erase the resistance levels of $ 1,820 and $ 1,840 to start a considerable increase.
Ethereum -Price will fall further
Ethereum -price cannot stay above the $ 1,800 support zone and extensive losses, such as Bitcoin. ETH traded as low as $ 1,751 and recently corrected some profit. There was a movement above the resistance levels of $ 1,780 and $ 1,800.
The bulls even pushed the price above the 23.6% FIB retracement level of the downward movement of the $ 1,955 Swing high to $ 1,751 low. However, the bears are active near the $ 1,820 zone. The price is now consolidating and is confronted with many obstacles.
Ethereum price is now being traded under $ 1,820 and the 100-hour simple advancing average. At the top the price seems to be confronted with obstacles near the level of $ 1,810. There is also a bearish trend line in the short term that forms with resistance at $ 1,810 on the ETH/USD graph per hour.
The next key resistance is near the $ 1,840 level or the 50% FIB retracement level of the downward movement of the $ 1,955 Swing high to $ 1,751 low at $ 1,850. The first major resistance is near the level of $ 1,880.
A clear movement above the $ 1,880 resistance can send the price to $ 1,920 resistance. An upward break above the $ 1,920 resistance can request more profit in the coming sessions. In the declared case, Ether could rise to the $ 2,000 or even $ 2,050 resistance zone in the near term.
Another decline of ETH?
If Ethereum did not know the resistance of $ 1,850, this can start a new decline. The first support at the disadvantage is near the level of $ 1,765. The first major support is near the $ 1,750 zone.
A clear movement under the support of $ 1,750 can push the price to $ 1,720 support. More losses can send the price in the short term to the support level of $ 1,680. The following key support is at $ 1,620.
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 – $ 1,750
Main resistance level – $ 1,850
