Ethereum price is struggling below the ,900 resistance against the US Dollar. ETH price is now trading below ,880 and the 55 simple moving average (4 hours). There is a major bearish trend line forming with resistance near ,880 on the 4-hour chart (data feed from Coinbase). The pair could continue to move down if it stays below ,880 and ,900. Ethereum price is declining below ,900 against the US Dollar. ETH/USD remains at a risk of more downsides below the ,830 support zone. Ethereum Price Analysis This past week, Ethereum started a fresh decline below ,950 against the US Dollar. ETH price moved into a bearish zone below the ,920 level. There was a sharp move below the ,880 level. A low was formed near ,832 and the price is now
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- Ethereum price is struggling below the $1,900 resistance against the US Dollar.
- ETH price is now trading below $1,880 and the 55 simple moving average (4 hours).
- There is a major bearish trend line forming with resistance near $1,880 on the 4-hour chart (data feed from Coinbase).
- The pair could continue to move down if it stays below $1,880 and $1,900.
Ethereum price is declining below $1,900 against the US Dollar. ETH/USD remains at a risk of more downsides below the $1,830 support zone.
Ethereum Price Analysis
This past week, Ethereum started a fresh decline below $1,950 against the US Dollar. ETH price moved into a bearish zone below the $1,920 level.
There was a sharp move below the $1,880 level. A low was formed near $1,832 and the price is now consolidating losses. It is now trading below $1,880 and the 55 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $1,880 on the 4-hour chart.
On the upside, the price is now facing resistance near the $1,855 level. It is close to the 23.6% Fib retracement level of the downward move from the $1,929 swing high to the $1,832 low.
The next major resistance is near the $1,880 level and the trend line. The 50% Fib retracement level of the downward move from the $1,929 swing high to the $1,832 low is also near $1,880. A clear move above the $1,880 resistance could send the price toward $1,900.
Any more gains could even send the price toward the $1,930 resistance zone or even $2,000 in the near term. On the downside, initial support is near the $1,830 level.
The next major support is now near the $1,780 level. A break below the $1,780 support could push the price to $1,650. If the bulls fail to protect the $1,650 support, the price might decline toward $1,550.
Looking at the chart, Ethereum price is trading below $1,900 and the 55 simple moving average (4 hours). Overall, Ether’s price could continue to move down if it stays below $1,880 and $1,900.
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 – $1,830, followed by the $1,780 zone.
Key Resistance$ Levels – $1,880 and $1,900.