.What Levels To Follow For Ethereum? – Ethereum failed to clear the $ 1,850 resistance and fell against the US Dollar. ETH price still holds the $ 1,710 support and appears to be trading in a range.
Ethereum is moving in a range below the $ 1,850 resistance and above the $ 1,710 support.
The price is currently above the $ 1,710 support. However, it is below the 100 hourly simple moving average.
There is a key bearish trend line showing resistance near $ 1,790 on the hourly chart of ETH / USD.
As long as there is no clear break below $ 1,700, the pair could start a strong uptrend.
Ethereum Price Holds Key Support
Ethereum pushed its rise above the $ 1,800 and $ 1,820 resistance levels. ETH even broke $ 1,840, but failed to cross the $ 1,850 resistance zone.
A high was formed around $ 1,849 before the price started a new decline. It broke the $ 1,800 support and the 100 hourly simple moving average. Ether tested the $ 1,710 support zone, where the bulls took a strong stance. The price seems to be moving below the $ 1,850 resistance and above the $ 1,710 support.
The price is trading above the 23.6% Fib retracement level of the last drop from $ 1,849 to $ 1,732. On the upside, the price is facing hurdles near the $ 1,800 level and the 100 hourly simple moving average.
There is a key bearish trend line showing resistance near $ 1,790 on the hourly chart of ETH / USD. The trendline is near the 50% Fib retracement level of the last drop from $ 1,849 to $ 1,732. A close above the $ 1,800 resistance could push the price to the $ 1,850 level. To start a strong increase, the price must move above $ 1,850 in the near term.
Are There More Losses on ETH?
If Ethereum fails to move above the $ 1,800 and $ 1,850 resistance levels, it may attempt a downside breakout. The first downside support is near the $ 1,740 level.
The main support is still near the $ 1,710 and $ 1,700 levels. Below this level, Ethereum price could start a strong decline towards the $ 1,650 and $ 1,620 levels.
Technical Indicators
Hourly MACD – The MACD for ETH / USD is slowly entering the bullish zone.
Hourly RSI – The RSI for ETH / USD is just below the 50 level.
Major Support Level: $ 1,710.
Major Resistance Level: $ 1,800.
To get the latest news To our Telegram channel, To our Twitter page and To our Facebook page You can subscribe.
