Ethereum Price fell down from the $ 1,690 area. ETH is currently stabilized and could fall further below the support zone of $ 1,580.
Main Takeways:-
- The price of Ethereum fell again after it could not exceed $ 1,700 and $ 1,720.
- At present, the price is quoted below $ 1,620 and the regular average of 100 hours.
- The ETH price was below a new line of ascending trends that had support around $ 1,625 in the ETH/USD table.
- To start a normal increase, the torque wants to pass the resistance level of $ 1,640.
Eth Price fights to break taller
Ethereum Price built a support above $ 1,550 and began an ascending movement, such as Bitcoin. ETH built impulse to break over the resistance areas of $ 1,600 and $ 1,620.
Buyers exceeded the price above $ 1,650. The price reached a maximum of $ 1,690 but then dropped. It moved below the support level of $ 1,640 and broke a new line of ascending trends that had support to $ 1,625 in the time graph for ETH/USD.
The price examined the 50% fib setback level of the upward increase of the $ 1,472 from the lowest to the maximum of $ 1,690. At present, the price of Ethereum is quoted below $ 1,625 and the simple mobile average of 100 hours.
Along the way, the price faces obstacles around the level of $ 1,620. The following important resistance is at the level of $ 1,640, and the main resistance is at the level of $ 1,650. If the price breaks above $ 1,650, it could increase to the level of $ 1,690.
If the price breaks above the resistance of $ 1,690, it could lead to more profits in the next sessions. In that case, Ether could rise to the resistance level of $ 1,750 or even reach $ 1,800 soon.
More decrease ahead for ETH?
If Ethereum cannot pass the resistance zone of $ 1,640, then another fall will begin. The first level of support in the inconvenience is close to the $ 1,580 zone. The first important support is close to the $ 1,555 zone, and the 61.8% fib recoil level increases from the drop of $ 1,472 to the maximum of $ 1,690.
A clear change under the support of $ 1,555 can push the price near the support zone of $ 1,525. If the price continues to fall, it could reach the support level of $ 1,450 soon. The following important support is $ 1,420.
Ethereum technical analysis:-
RSI per hour (relative force index): The RSI for ETH/USD is currently under zone 50.
MACD per hour (Mobile average convergence divergence): The MACD for ETH/USD currently shows a growing impulse in the bearish zone.
- $ 1,580 – Important support level
- $ 1,640 – higher resistance level
Read also:- Bitcoin’s bullish impulse grows as Binance metric changes to neutral
Discharge of responsibility: In Bitcoinik.com we present the most recent information in the encryption market. However, this information should not be considered as financial advice, and viewers must consult their financial advisors before investing.
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