Ethereum Price began a new drop compared to the resistance area of $ 2,850. ETH is down more than 10% and has trouble staying above $ 2,500.
- Ethereum faces an increase in the sale below the $ 2,650 area.
- The price is negotiated below $ 2,750 and the mobile average at 100 hours.
- There is a short -term lower trend line forming with $ 2,600 resistance in the ETH / USD time table (data flow via Kraken).
- The pair could start a decent decent upward if it moved above $ 2,600 and $ 2,650.
Ethereum Price takes a blow
Ethereum Price failed to erase the resistance area of $ 2,850 and started a new drop, as Bitcoin. ETH has acquired a rhythm below $ 2,720 and at the support levels of $ 2,650 to enter a lower area.
The price has decreased by more than 10% and even decreased below the support area of $ 2,550. A hollow was formed at $ 2,458 and the price now consolidates the lower losses in the FIB retracement level of 23.6% of the downward move of the swing of $ 2,854 at the $ 2,458 level.
Ethereum Price is now negotiated below $ 2,600 and the Simple mobile average at 100 hours. There is also a short -term downward trend line with $ 2,600 resistance on the ETH / USD time table.
Uplining, the price seems to be confronted with obstacles near the level of $ 2,550. The first major resistance is close to the level of $ 2,600. The main resistance is now formed nearly $ 2,650 or the FIB trace level at 50% of the $ 2,854 swing movement at $ 2,458.
A clear decision above the resistance of $ 2,650 could send the price to the resistance of $ 2,750. An upward rupture above the resistance of $ 2,750 could require more gains in future sessions. In the case indicated, ether could increase to the resistance zone of $ 2,850, or even $ 2,920 in the short term.
No more losses in ETH?
If Ethereum fails to erase the resistance by $ 2,600, this could start another drop. The initial support for the decline is close to the level of $ 2,550. The first major support is near the $ 2,450 area.
A clear decision below $ 2,450 support could push the price to the $ 2,320 support. Other losses could send the price to the level of support of $ 2,250 in the short term. The following key support is at $ 2,120.
Technical indicators
Schedule macD – The MacD for ETH / USD is gaining momentum in the lower area.
Hourly RSI – The RSI for ETH / USD is now less than zone 50.
Major level of support – $ 2,450
Major resistance level – $ 2.650