What’s Next After the Major Decline?
The price of Ethereum began to decrease at a area below $ 3,000. ETH fell 25 %, and bears seemed to be less than $ 2770.
- Ethereum began to decline at a support area below $ 3,000.
- Price transactions are less than 2,800 US dollars and 100 hours of simple moving average.
- At the ETH/USD hour table (through Kraken’s data summary), there is a key decking trend line with a resistance of $ 2,900.
- If the two keep above $ 2,200, they can start to restore the wave.
Ethereum is expensive
The price of Ethereum began to fall sharply below $ 3,000, and the performance was not good. BitcoinEssence ETH has dropped to a level of $ 2,800 below $ 2,650 and enters the loser area.
There is an obvious move below the level of $ 2500. The price dropped by more than 25 % and tested the area of $ 2,120. The low price price is $ 2,127, and the current price is consolidating losses. A slight increase of a level higher than $ 2300. The price from a wing of $ 3,403 to $ 2,127 exceeded the price of FIB withdrawal of 23.6 %.
The price of Ethereum is now trading at a price below $ 2,800, 100 -hour simple moving averageEssence In good aspects, the price seems to face a $ 2,650 obstacle. The first main resistance is from a level of $ 2,770 or a 50 % FIB retreat level, from a wing of $ 3,403 to a swinging low of $ 2,127.
Now, the formation of the main resistance is close to $ 2,900. In the ETH/USD hour table, there is also a key decoction trend line with a resistance of $ 2,900. The clear action of more than $ 2,900 resistance may transfer the price to a resistance of $ 3,000.
The upward breakthrough of more than 3,000 US dollars of resistance may require more benefits at the upcoming meeting. In the case of statement, Ether may rise towards a US $ 3,150 resistance area or even 3,250 US dollars in the short term.
Is there another game?
If Ethereum fails to remove a resistance of $ 2,600, it may fall again. The initial support of unfavorable aspects is close to $ 2,320. The first support is located near $ 2,250.
The clear behavior of less than $ 2,250 may push the price to $ 2,120 support. In the short term, more losses may transfer the price to a support level of $ 2,000. The next key supports $ 1,880.
Technical indicator
MACD per hour – ETH/USD’s MACD is looking at the driving force.
RSI per hour – ETH/USD’s RSI is now lower than 50 areas.
Main support level-2,200 US dollars
Main resistance level-$ 2,600
