Ethereum Price Revisits Key Support, Can Bears Take Over?
Ethereum price initiated an additional repudiate and traded below $2,920. ETH could gain bearish energy if there is a cozy below the $2,800 affirm area.
- Ethereum continued to be in a bearish area and traded below the $2,900 area.
- The price is trading below $2,950 and the 100-hourly Stark Shifting Median.
- There is a linking bearish craze spiel developing with resistance at $3,050 on the hourly chart of ETH/USD (documents feed via Sea serpent).
- The pair could reinforce to solution down if it stays below the $3,050 resistance.
Ethereum Price Extends Losses
Ethereum price continued to be in a bearish area below the $3,120 level, pick Bitcoin. ETH traded below the $3,000 level. The bears also coerced the price below the $2,920 level.
A decreased was built at $2,813 and the price is now consolidating. There was a mild concentration looming the $2,900 level. The price sampled the 23.6% Fib retracement level of the downward wave from the $3,355 swing high to the $2,813 decreased. But, the bears were vibrant foreseeable the $2,950 and $2,965 extents.
Ethereum is now trading below $3,000 and the 100-hourly Stark Shifting Median. Quickly resistance is foreseeable the $2,965 level. The first calculated resistance is foreseeable the $3,050 level and the 100-hourly Stark Shifting Median.
There is moreover a linking bearish craze spiel developing with resistance at $3,050 on the hourly chart of ETH/USD. The craze spiel is cozy to the 50% Fib retracement level of the downward wave from the $3,355 swing high to the $2,813 decreased.
Resource: ETHUSD on TradingView.com
The next off secret resistance rests at $3,085, looming which the price could gain traction and concentration towards the $3,150 level. A cozy looming the $3,150 resistance could send out the price towards the $3,250 resistance. If there is a solution looming the $3,250 resistance, Ethereum could also check-up the $3,350 resistance. Any kind of a digit more gains could send out Ether towards the $3,500 resistance area.
More Downsides In ETH?
If Ethereum fails to readable the $3,050 resistance, it could reinforce to solution down. Initial affirm on the disadvantage is foreseeable the $2,850 level. The first calculated affirm is foreseeable the $2,820 area.
The leading affirm is foreseeable the $2,820 level. A readable solution below the $2,820 affirm could press the price towards $2,650. Any kind of a digit more losses could send out the price towards the $2,540 level in the foreseeable term.
Techie Indicators
Hourly MACD – The MACD for ETH/USD is acquiring energy in the bearish area.
Hourly RSI – The RSI for ETH/USD is now below the 50 level.
Major Affirm Level – $2,820
Major Resistance Level – $3,050
