The price of Ethereum began a fresh decline from the resistance zone in the amount of 2,450 US dollars. Currently, ETH consolidates losses and may encounter obstacles of about $ 2,400 and $ 2450.
- Ethereum is faced with an increase in sales below the zone for $ 2450.
- The price is traded below $ 2500 and a 100-hour simple sliding average.
- On the hourly chart of ETH/USD (data supply through Kraken), the hourly chart of the ETH/USD contains a connective line of a bear trend with resistance (data supply through Kraken).
- The couple could start a decent step up if it registers above $ 2,400 and $ 2500.
Ethereum price increases losses
The price of Ethereum could not clean the resistance zone in the amount of $ 2550 and began a fresh decline, for example, Bitcoin. ETH scored a pace below support levels of $ 2500 and US $ 2450 to move on in the bear zone.
The price decreased by more than 5% and even traded below the support zone of $ 2320. The low was formed at the level of $ 2251, and the price is currently consolidating losses. There was a slight recovery wave higher than the FIB recovery level of 23.6% in the descending movement from high swinging in the amount of $ 2519 to a low level of $ 2251.
The price of Ethereum is currently trading below $ 2450 and a 100-hour simple sliding average. There is also a connecting line of a bear trend that forms a resistance of $ 2390 in the hourly eth/USD diagram.
On the other hand, the price, according to the visible, is faced with obstacles at a level of $ 2380 or a level of 50% recovery from a downstream maximum of swinging in the amount of $ 2519 to US dollars. The first major resistance is located near the level of $ 2420. The main resistance is currently formed about $ 2450.
A clear move above the resistance in the amount of 2450 US dollars can send a resistance price in the amount of $ 2500. A break in the plus above the resistance of $ 2500 may require more success at the upcoming sessions. In the declared case, the broadcast can rise towards the resistance zone in the amount of $ 2550 or even $ 2620 in the near future.
Another fall in ETH?
If Ethereum cannot clean the resistance of $ 2500, this may start another decrease. Initial support for a lack of $ 2315 is located. The first major support is located next to the zone for $ 2250.
A clear move below support in the amount of 2,250 US dollars can push the price of $ 2,200. Any other losses can send the price of support in the amount of $ 2120 in the near future. The next support for keys costs at $ 2050.
Technical indicators
Hight Macd – MACD for ETH/USD is gaining momentum in the bear area.
Hight Rsi – RSI for ETH/USD is now lower than 50 zone.
The main level of support is $ 2250
The main level of resistance is 2500 US dollars.
