Ethereum price is showing bearish signs below the ,250 resistance zone against the US Dollar. ETH price is now trading below ,240 and the 55 simple moving average (4-hours). There was a break below a key bullish trend line with support near ,270 on the 4-hours chart (data feed from Coinbase). The pair could start a recovery wave if it clears the ,220 resistance zone. Ethereum price is struggling below ,250 against the US Dollar. ETH/USD remains at a risk of more losses if there is a break below the ,150 zone. Ethereum Price Analysis This past week, ethereum faced a rejection near the ,350 zone against the US Dollar. ETH price failed to gain strength and started a fresh decline below the ,300 level. There was a clear move below the ,280 and ,250
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 is showing bearish signs below the $1,250 resistance zone against the US Dollar.
- ETH price is now trading below $1,240 and the 55 simple moving average (4-hours).
- There was a break below a key bullish trend line with support near $1,270 on the 4-hours chart (data feed from Coinbase).
- The pair could start a recovery wave if it clears the $1,220 resistance zone.
Ethereum price is struggling below $1,250 against the US Dollar. ETH/USD remains at a risk of more losses if there is a break below the $1,150 zone.
Ethereum Price Analysis
This past week, ethereum faced a rejection near the $1,350 zone against the US Dollar. ETH price failed to gain strength and started a fresh decline below the $1,300 level.
There was a clear move below the $1,280 and $1,250 support levels. The bears pushed the price below the $1,220 support zone and the 55 simple moving average (4-hours). Besides, there was a break below a key bullish trend line with support near $1,270 on the 4-hours chart.
The price traded as low as $1,150 and is currently consolidating losses. An immediate resistance is near the $1,200 level. It is near the 23.6% Fib retracement level of the downward move from the $1,350 swing high to $1,150 low. The next major resistance is near the $1,220 zone.
The main resistance is near the $1,250 zone and the 55 simple moving average (4-hours). It is close to the 50% Fib retracement level of the downward move from the $1,350 swing high to $1,150 low.
A clear move above the $1,240 and $1,250 resistance levels might call for a decent increase to $1,300. Any more gains could even send the price above the $1,350 resistance zone.
On the downside, an initial support is near the $1,160 level. The next major support is now near the $1,150 level. A break below the $1,150 support could push the price to $1,100.
If the bulls struggle to protect the $1,100 support, the price might decline towards $1,065. Any more losses could lead the price towards $1,000 or even $920.
Ethereum Price
Looking at the chart, Ethereum price is clearly trading near the $1,250 zone and the 55 simple moving average (4-hours). Overall, ether price could start a recovery wave if it clears the $1,220 resistance zone.
Technical indicators
4 hours MACD – The MACD for ETH/USD is now losing 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 – $1,150, followed by the $1,100 zone.
Key Resistance$ Levels – $1,220 and $1,250.