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Ethereum -Price started a new decrease in the $ 2,850 resistance zone. ETH falls by more than 10% and is struggling to stay above the level of $ 2,500.
- Ethereum is confronted with an increase in sales below $ 2,650 zone.
- The price acts under $ 2,750 and the 100-hour simple advancing average.
- There is a bearish trend line in the short term that forms with resistance at $ 2,600 on the hourly table ETH/USD (data feed via Kraken).
- The couple can start a considerable upward movement if it settles above $ 2,600 and $ 2,650.
Ethereum -Price hit
Ethereum -Price could not delete the $ 2,850 resistance zone and started a new decrease, such as Bitcoin. ETH won pace under the support levels of $ 2,720 and $ 2,650 to enter a bearish zone.
The price fell more than 10% and even fell under the $ 2,550 support zone. A low point was formed at $ 2,458 and the price is now losing losing below the 23.6% FIB racement level of the downward movement of the $ 2,854 swing high to $ 2,458 low.
Ethereum price is now traded under $ 2,600 and the 100-hour simple advancing average. There is also a bearish trend line in the short term that forms with resistance at $ 2,600 on the ETH/USD graph per hour.
At the top the price seems to be confronted with obstacles near the level of $ 2,550. The first major resistance is near the level of $ 2,600. The main resistance is now almost $ 2,650 or the 50% FIB retracement level of the downward movement of the $ 2,854 swing high to $ 2,458 low.
A clear movement above the $ 2,650 resistance can send the price to $ 2,750 resistance. An upward break above the $ 2,750 resistance can request more profit in the coming sessions. In the indicated case, Ether could rise to the $ 2,850 resistance zone or even $ 2,920 in the short term.
More losses in ETH?
If Ethereum did not know the resistance of $ 2,600, this can start a new decline. The first support at the disadvantage is near the level of $ 2,550. The first major support is near the $ 2,450 zone.
A clear movement under the support of $ 2,450 can push the price to $ 2,320 support. All losses can send the price in the short term to the support level of $ 2,250. 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 – $ 2,450
Large resistance level – $ 2,650
