Reason to trust

How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Ethereum extended losses below the $1,820 support against the US Dollar. ETH could decline further if it fails to start a recovery wave above the $1,900 level.
- Ethereum started a fresh decline and traded below the $1,900 level.
- The price is now trading below $1,880 and the 100 hourly simple moving average.
- There is a key bearish trend line forming with resistance near $1,880 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could continue to move down if there is a clear move below the $1,800 level.
Ethereum Price Turns Red
Ethereum followed a bearish path after it settled below the $1,900 level. ETH traded below the $1,850 support zone and increased pressure on the bulls.
The bears even pushed the price below the $1,820 level, but the price stayed above the $1,800 level. A low is formed near $1,806 and the price is now consolidating losses. Ether price is now trading below $1,880 and the 100 hourly simple moving average.
An immediate resistance on the upside is near the $1,840 level. It is near the 23.6% Fib retracement level of the recent drop from the $1,955 swing high to $1,806 low.
The first major resistance is now forming near the $1,880 level and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $1,880 on the hourly chart of ETH/USD. The trend line is near the 50% Fib retracement level of the recent drop from the $1,955 swing high to $1,806 low.
Source: ETHUSD on TradingView.com
A clear move above the $1,880 resistance could even push the price above the $1,900 resistance. The next major resistance is near the $1,920 level, above which the price may perhaps move into a positive zone.
More Losses in ETH?
If ethereum fails to rise above the $1,880 resistance, it could continue to move down. An initial support on the downside is near the $1,800 zone.
The next major support is near $1,780, below which ether price might accelerate lower. In the stated case, the price may perhaps decline towards the $1,750 level. Any more losses may perhaps open the doors for a move towards the $1,650 level.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 level.
Major Support Level – $1,800
Major Resistance Level – $1,880