Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Este artículo también está disponible en español.
Ethereum price attempted a recovery wave above the $1,820 level but failed. ETH is now consolidating losses and might face resistance near the $1,840 zone.
- Ethereum failed to stay above the $1,850 and $1,840 levels.
- The price is trading below $1,840 and the 100-hourly Simple Moving Average.
- There is a short-term bearish trend line forming with resistance at $1,810 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair must clear the $1,820 and $1,840 resistance levels to start a decent increase.
Ethereum Price Dips Further
Ethereum price failed to stay above the $1,800 support zone and extended losses, like Bitcoin. ETH traded as low as $1,751 and recently corrected some gains. There was a move above the $1,780 and $1,800 resistance levels.
The bulls even pushed the price above the 23.6% Fib retracement level of the downward move from the $1,955 swing high to the $1,751 low. However, the bears are active near the $1,820 zone. The price is now consolidating and facing many hurdles.
Ethereum price is now trading below $1,820 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $1,810 level. There is also a short-term bearish trend line forming with resistance at $1,810 on the hourly chart of ETH/USD.
The next key resistance is near the $1,840 level or the 50% Fib retracement level of the downward move from the $1,955 swing high to the $1,751 low at $1,850. The first major resistance is near the $1,880 level.
A clear move above the $1,880 resistance might send the price toward the $1,920 resistance. An upside break above the $1,920 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,000 resistance zone or even $2,050 in the near term.
Another Decline In ETH?
If Ethereum fails to clear the $1,850 resistance, it could start another decline. Initial support on the downside is near the $1,765 level. The first major support sits near the $1,750 zone.
A clear move below the $1,750 support might push the price toward the $1,720 support. Any more losses might send the price toward the $1,680 support level in the near term. The next key support sits at $1,620.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $1,750
Major Resistance Level – $1,850
