Ethereum Price Recovery Stalls at Resistance: Can Bulls Break Through?
Ethereum prices began to restore the wave above 2,500 US dollars. ETH has increased by nearly 10 %, and is now facing a major resistance of $ 2,920.
- Ethereum began to move up above the support area of ​​$ 2,500.
- Price transactions are less than 2,900 US dollars and 100 hours of simple moving average.
- At the ETH/USD chart (through Kraken’s data referral), there is a key drop of trend line with a resistance of $ 2,920.
- If the two keep below $ 2,920, a new decline may begin.
Ethereum price attempt to restore
The price of Ethereum began to decline below $ 2,800, and the performance was not good. BitcoinEssence ETH has dropped to the level of $ 2,650 and $ 2,500.
The level below $ 2,200, obvious actions. price Dropped by more than 25 % And tested a $ 2,120 area. The price of a low point is $ 2,127, and the price has recently started new progress. Increases higher than $ 2500.
The price from a wing of $ 3,403 to $ 2,127 decreased at a decrease of more than 50 % of the FIB retracement level. However, these bears are now active near $ 2,900. In the ETH/USD hour table, there is also a key decoction trend line with a resistance of $ 2,920.
The current transaction price of Ethereum price is less than 2,900 US dollars and a simple moving average of 100 hours. In good aspects, the price seems to face $ 2,900 obstacles. The first main resistance is the level of nearly $ 2,920. The trend line or 61.8 % of the FIB retracement position is moved from a wing of $ 3,403 to $ 2,127.
Now, the main resistance is formed nearly $ 3,000. The clear action of more than 3,000 US dollars of resistance may transfer the price to the resistance of $ 3,120. The uplink breakthrough of the resistance of more than 3,120 US dollars may require more benefits at the upcoming meeting. In the case of statement, Ether may rise towards a US $ 3,250 resistance area or even 3,320 US dollars in the short term.
Is there another game?
If Ethereum fails to remove a resistance of $ 2,900, it may fall again. The initial support of the shortcomings is close to $ 2,765. The first support is located near $ 2,650.
The clear behavior of less than $ 2,650 may push the price to $ 2,500 support. In the short term, more losses may transfer the price to a support level of $ 2,420. The next key supports $ 2,350.
Technical indicator
MACD per hour – ETH/USD’s MACD is looking at the bullish area to gain momentum.
RSI per hour – ETH/USD’s RSI is now higher than 50 areas.
Main support level-$ 2,765
Main resistance level-$ 2,920
