Ethereum Price Struggles Against Resistance: A Tough Road Ahead
Ethereum’s efforts lasted more than $ 3,220. ETH is now consolidating losses and may face resistance near a $ 3,220 area.
- Ethereum began to decline at a area below $ 3,120.
- The price transaction is less than $ 3,180, and the 100 -hour simple moving average.
- In ETH/USD’s hour chart, there is a key drop -to -treated trend line with a resistance of $ 3,220 (with Kraken data summary).
- If the two keep below the level of $ 3,200, another decline may begin.
Ethereum price faces resistance
The price of Ethereum below is less than 3,220 US dollars and $ 3,180, such as BitcoinEssence Before the emergence of the bull, ETH was even less than $ 3,050.
The low price is $ 3,021, the price has been corrected recently lossEssence Movement of more than $ 3,120 and $ 3,150. From a wing of $ 3,425 to a autumn of $ 3,020, the price increased by 23.6 % of the FIB retracement level.
However, below the resistance of the bear at 3,200 US dollars is in a state of activity. The current transaction price of Ethereum price is less than $ 3,200, and the simple moving average of 100 hours is the same. In the ETH/USD hour table, there is also a key point of view of the trend line with a resistance of $ 3,220.
In good aspects, the price seems to be facing an obstacle of $ 3,180. The first main resistance is the level and trend line of nearly $ 3,200. At present, the formation of the main resistance is close to $ 3,220, and from a wing of 3,425 US dollars to a drop of 50 % FIB retracement at the height of a wing of $ 3,020.
The clear action of more than 3,220 resistance may transfer the price to the resistance of $ 3,320. The uplink breakthrough of more than 3,320 resistance may require more benefits at the upcoming meeting. In the case of statement, it may rise towards a US $ 3,450 resistance area or even $ 3,500 in the short term.
Another decline in ETH?
If Ethereum fails to remove a resistance of $ 3,200, it may fall again. The initial support of the disadvantages is close to the $ 3,0750 level. The first support is located near $ 3,050.
The clear movement of support of less than $ 3,050 may push the price to the support of $ 3,020. In the short term, more losses may transfer the price to a support level of $ 3,000. The next key supports $ 2,950.
Technical indicator
MACD per hour – ETH/USD’s MACD is looking at the loss of motivation.
RSI per hour – ETH/USD’s RSI is now higher than 50 areas.
Main support level-$ 3,050
Main resistance level-$ 3,220
