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Ethereum -Price Corrected profits and tested the $ 2,320 zone. ETH is struggling now and can fall in the direction of the $ 2,220 support zone.
- Ethereum started a correction of the $ 2,580 zone and tested $ 2,320.
- The price acts under $ 2,500 and the 100-hour simple advancing average.
- There is a connecting Bearish trend line that forms with resistance at $ 2,540 on the ETH/USD per hour (data feed via Kraken).
- The couple can get strength if it knew the resistance of $ 2,550 in the short term.
Ethereum -Price is falling again
Ethereum Price struggled to erase the resistance of $ 2,520 and started a downward correction, in contrast to Bitcoin. ETH traded under the support levels of $ 2,500 and $ 2,440.
The bears could push the price below the 50% FIB retraction level of the upward movement from the $ 2,308 swing low to $ 2,509 high. The price was even below the level of $ 2,440, but the bulls were active near the $ 2,400 zone.
The price is stable above the 61.8% FIB retracement level of the upward movement of the $ 2,308 Swing low to the $ 2,509 high. Ethereum price now trades under $ 2,450 and the 100-hour simple advancing average. There is also a connecting Bearish trend line that forms with resistance at $ 2,540 on the ETH/USD card per hour.
If there is another increase, the price can experience the resistance near the level of $ 2,460. The next key resistance is near the level of $ 2,500. The first major resistance is near the level of $ 2,550 and the trend line. A clear movement above the $ 2,550 resistance can send the price to the $ 2,580 resistance.
An upward break above the $ 2,580 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise in the short term to the $ 2,700 resistance zone or even $ 2,780.
Another decline of 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 $ 2,350 zone.
A clear movement under the support of $ 2,350 can push the price to $ 2,320 support. More losses can send the price in the short term to the support level of $ 2,220. The following key support is at $ 2,120.
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 – $ 2,400
Large resistance level – $ 2,500
