Ethereum Price Struggles to Sustain Gains: Is the Uptrend in Trouble?

Ethereum price struggled to readable the $2,750 resistance. ETH is now consolidating near $2,635 and lingers at blooper of auxiliary downsides.

• Ethereum begun a fresh rotate down from the $2,750 resistance.
• The price is trading under $2,700 and the 100-hourly Petite Relocating Mediocre.
• There was a reprieve under a pivot contracting triangular with grow at $2,695 on the hourly graph of ETH/USD (information feed via Kraken).
• The pair can extend losses if it decreases under the $2,635 grow area.

Ethereum Price Slides Once more

Ethereum price begun a commendable spurt from the $2,650 grow area. ETH outperformed Bitcoin and outdid the $2,720 resistance area. Yet, the bears were vivacious near the $2,750 area.

The recent swing high was molded at $2,763 before the price rectified gains. There was a glide under the $2,720 and $2,700 levels. Besides, there was a reprieve under a pivot contracting triangular with grow at $2,695 on the hourly graph of ETH/USD.

Ethereum price is now trading under $2,700 and the 100-hourly Petite Relocating Mediocre. A low is molded near $2,635 and the price is now consolidating. If there is another spurt, the price can disown crises near the $2,700 extent. It is chummy to the 50% Fib retracement extent of the recent rotate down from the $2,763 swing high to the $2,635 low.

The first major resistance is near the $2,735 extent or the 76.4% Fib retracement extent of the recent rotate down from the $2,763 swing high to the $2,635 low. A chummy above the $2,735 extent can send Ether towards the $2,765 resistance.

The next off pivot resistance is near $2,800. An upside reprieve above the $2,800 resistance can send the price better towards the $2,880 resistance area in the near term.

Extra Losses In ETH?

If Ethereum fails to readable the $2,700 resistance, it can perpetuate to glide down. First grow on the disparaging element is near $2,635. The first major grow rests near the $2,600 area.

A readable glide under the $2,600 grow can push the price towards $2,550. Any kind of auxiliary losses can send the price towards the $2,520 grow extent in the near term. The next off pivot grow rests at $2,440.

Technical Signs

Hourly MACD – The MACD for ETH/USD is wasting energy in the bullish area.

Hourly RSI – The RSI for ETH/USD is now under the 50 area.

Weighty Guidance Level – $2,635

Weighty Resistance Level – $2,700