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Ethereum -Price started a downward correction under the $ 1,850 zone. ETH is now consolidating and can continue to fall under the $ 1,785 support zone.
- Ethereum started a new decrease below $ 1,850 and $ 1,820 levels.
- The price trades under $ 1,800 and the 100-hour simple advancing average.
- There is an important bearish trend line that forms with resistance at $ 1,830 on the hourly table ETH/USD (data special via Kraken).
- The couple can continue to go down if it breaks the support level of $ 1,785.
Ethereum -Price is struggling to erase resistance
Ethereum -Price could not delete the $ 1,880 resistance and started a downward correction, such as Bitcoin. ETH fell under the support levels of $ 1,850 and $ 1,820.
There was a movement below the 50% FIB racement level of the upward movement of the $ 1,734 swing low to $ 1,872 high. De Beren even pushed the price below the level of $ 1,800, but supporting the price near the support level of $ 1,785.
Ethereum price now trades under $ 1,800 and the 100-hour simple advancing average. There is also an important bearish trend line that forms with resistance at $ 1,830 on the hour table ETH/USD.
At the top the price seems to have to do with obstacles near the level of $ 1,820. The next key resistance is near the level of $ 1,830 and the trend line. 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.
More losses in ETH?
If Ethereum did not know the resistance of $ 1,830, this can start a new decline. The first support for the disadvantage is near the level of $ 1,785 and the 61.8% FIB racement level of the upward movement of the $ 1,734 Swing low to $ 1,872 high. 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 $ 1,685. The following key support is at $ 1,640.
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 – $ 1,765
Main resistance level – $ 1,830