cryptocurrency

Ethereum Price Analysis: ETH Struggling Near Key Support

  • Ethereum price started a new decline from the $2000 area against the US Dollar.
  • ETH price is now trading below $1,700 and the 55 simple moving average (4-hours).
  • There was a break below the major uptrend line with support near $1,840 on the 4-hour chart (data feed from Coinbase).
  • The pair could start a new high unless there is a clear move below the $1.520 area.

Ethereum price is struggling below $1,700 against the US dollar. ETH/USD remains at risk of further losses if there is a break below the $1.525 region.

Ethereum price analysis

Last week, Ethereum face rejection Near the $2000 area against the US dollar. ETH price failed to gain traction and started a new decline below the $1,880 level.

There was a clear move below the $1750 and $1700 support levels. Besides, there was a break below the major uptrend line with support near $1,840 on the 4-hour chart. The pair accelerated lower below the $1,650 level and 55 simple moving average (4 hours).

The price is now consolidating losses above the $1.525 level. There is an immediate resistance near the $1,640 level. It is near the 23.6% Fib retracement level of the downside move from the $2,031 swing high to $1,523 low.

The next major resistance is near the $1,770 area and the 55 simple moving average (4-hours). It is close to the 50% Fib retracement level of the downside move from the $2,031 swing high to $1,523 low. Any further gains could send the price above the $1,850 resistance area.

On the downside, initial support is near the $1,550 level. The next major support is now near the $1,525 level. A break below the $1,525 support could push the price to $1,385. Any further losses could push the price towards $1,250 or even $1,200 in the coming days.

Ethereum price

look at me ScheduleEthereum price is clearly trading below the $1800 area and the 55 simple moving average (4-hours). In general, the price of Ether could start a new increase unless there is a clear move below the $1,520 area.

Technical Indicators

4-hour MACD – The MACD for ETH/USD is losing momentum in the bearish zone.

4-hour RSI (Relative Strength Index) – The RSI for ETH/USD is now below the 50 level.

The main support levels are $1,525, followed by the $1,385 area.

The key resistance levels in the dollar are $1,640 and $1,770.

Tags: ETH, Ethereum

#Ethereum #Price #Analysis #ETH #Struggling #Key #Support

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button