Ethereum price started a fresh decline from the ,380 zone against the US Dollar. ETH price is now trading below ,325 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near ,300 on the 4-hours chart (data feed from Coinbase). The pair could decline heavily if there is a clear move below the ,250 support zone. Ethereum price is struggling below ,350 against the US Dollar. ETH/USD remains at a risk of more losses if there is a break below the ,250 zone. Ethereum Price Analysis This past week, ethereum faced a rejection near the ,380 zone against the US Dollar. ETH price failed to gain strength and started a fresh decline below the ,350 level. There was a clear move below the ,350 and ,320 support
Topics:
Aayush Jindal considers the following as important: Altcoin News, ETH, Ethereum, News, Trading
This could be interesting, too:
Emily John writes GRVT Launches Alertatron Trading Event and Airdrop Before TGE
Bilal Hassan writes Coinbase Expands in Nigeria with Onboard Global Partnership
Guest User writes XRP Price Faces Potential Drop: Leading KOL Warns of Imminent Correction with TD Sequential Sell Signal!
Bilal Hassan writes Bitget Expands in South Africa with Callpay Integration
- Ethereum price started a fresh decline from the $1,380 zone against the US Dollar.
- ETH price is now trading below $1,325 and the 55 simple moving average (4-hours).
- There is a major bearish trend line forming with resistance near $1,300 on the 4-hours chart (data feed from Coinbase).
- The pair could decline heavily if there is a clear move below the $1,250 support zone.
Ethereum price is struggling below $1,350 against the US Dollar. ETH/USD remains at a risk of more losses if there is a break below the $1,250 zone.
Ethereum Price Analysis
This past week, ethereum faced a rejection near the $1,380 zone against the US Dollar. ETH price failed to gain strength and started a fresh decline below the $1,350 level.
There was a clear move below the $1,350 and $1,320 support levels. The pair accelerated lower below the $1,300 level and the 55 simple moving average (4-hours). It traded as low as $1,267 and is currently consolidating losses.
An immediate resistance is near the $1,295 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,384 swing high to $1,267 low. The next major resistance is near the $1,325 zone. There is also a major bearish trend line forming with resistance near $1,300 on the 4-hours chart.
The trend line resistance is near the 50% Fib retracement level of the recent decline from the $1,384 swing high to $1,267 low. A clear move above the $1,325 and $1,330 resistance levels might call for a decent increase to $1,380.
Any more gains could even send the price above the $1,400 resistance zone. On the downside, an initial support is near the $1,265 level. The next major support is now near the $1,250 level. A break below the $1,250 support could push the price to $1,200. Any more losses could lead the price towards $1,150 or even $1,120.
Ethereum Price
Looking at the chart, Ethereum price is clearly trading below the $1,350 zone and the 55 simple moving average (4-hours). Overall, ether price could decline heavily if there is a clear move below the $1,250 support 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 – $1,250, followed by the $1,200 zone.
Key Resistance$ Levels – $1,325 and $1,380.