Earn Your First Bitcoin Sign up and get Bonus Referral bonus up to ,000 Sign up Ethereum price is gaining bearish momentum below the ,885 resistance against the US Dollar. ETH price is now trading below ,885 and the 55 simple moving average (4 hours). There was a break below a key bullish trend line with support at ,885 on the 4-hour chart (data feed from Coinbase). The pair could recover, but it is likely to face sellers near the ,885 resistance zone. Ethereum price is declining below ,885 against the US Dollar. ETH/USD remains at a risk of more downsides below the ,800 support zone. Ethereum Price Analysis This past week, Ethereum struggled to clear the ,020 resistance
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Sign up- Ethereum price is gaining bearish momentum below the $1,885 resistance against the US Dollar.
- ETH price is now trading below $1,885 and the 55 simple moving average (4 hours).
- There was a break below a key bullish trend line with support at $1,885 on the 4-hour chart (data feed from Coinbase).
- The pair could recover, but it is likely to face sellers near the $1,885 resistance zone.
Ethereum price is declining below $1,885 against the US Dollar. ETH/USD remains at a risk of more downsides below the $1,800 support zone.
Ethereum Price Analysis
This past week, Ethereum struggled to clear the $2,020 resistance zone against the US Dollar. ETH price struggled to gain pace above the $2,000 level and reacted to the downside.
The recent high was formed near $2,020 and the price started a fresh decline. There was a drop below the $1,920 and $1,885 support levels. The pair even spiked below the $1,820 support. A low is formed near $1,810 and the price is now consolidating losses.
It is now trading below $1,885 and the 55 simple moving average (4 hours). On the upside, the price is now facing resistance near the $1,860 level. It is near the 23.6% Fib retracement level of the recent decline from the $2,020 swing high to the $1,810 low.
The next major resistance is near the $1,885 level, above which it could test the 50% Fib retracement level of the recent decline from the $2,020 swing high to the $1,810 low.
The next major resistance is near the $1,970 zone. A clear move above the $1,970 and $1,980 resistance levels might call for a fresh move to $2,020. Any more gains could even send the price toward the $2,120 resistance zone or even $2,200 in the near term.
On the downside, initial support is near the $1,800 level. The next major support is now near the $1,775 level. A break below the $1,775 support could push the price to $1,720. If the bulls fail to protect the $1,720 support, the price might decline toward $1,650.
Ethereum Price
Looking at the chart, Ethereum price is trading below $1,885 and the 55 simple moving average (4 hours). Overall, Ether’s price could recover, but it is likely to face sellers near the $1,885 resistance zone.
Technical indicators
4 hours MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is now below the 50 level.
Key Support Levels – $1,800, followed by the $1,775 zone.
Key Resistance$ Levels – $1,885 and $1,915.