Ethereum price is gaining bearish momentum below the ,900 resistance against the US Dollar. ETH price is now trading below ,920 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near ,910 on the 4-hour chart (data feed from Coinbase). The pair could recover, but it is likely to face sellers near the ,920 resistance zone. Ethereum price is declining below ,920 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 ,950 resistance zone against the US Dollar. ETH price attempted a few times to clear the ,950 level but failed. The recent high was formed near ,939 and the price started a fresh
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- Ethereum price is gaining bearish momentum below the $1,900 resistance against the US Dollar.
- ETH price is now trading below $1,920 and the 55 simple moving average (4 hours).
- There is a key bearish trend line forming with resistance near $1,910 on the 4-hour chart (data feed from Coinbase).
- The pair could recover, but it is likely to face sellers near the $1,920 resistance zone.
Ethereum price is declining below $1,920 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 $1,950 resistance zone against the US Dollar. ETH price attempted a few times to clear the $1,950 level but failed.
The recent high was formed near $1,939 and the price started a fresh decline. There was a drop below the $1,900 and $1,880 support levels. The pair even spiked below the $1,820 support. A low is formed near $1,805 and the price is now consolidating losses.
It is now trading below $1,880 and the 55 simple moving average (4 hours). The price is now facing resistance near the $1,870 level. It is near the 50% Fib retracement level of the recent decline from the $1,939 swing high to the $1,805 low.
The next major resistance is near the $1,900 level. There is also a key bearish trend line forming with resistance near $1,910 on the 4-hour chart. The trend line is near the 76.4% Fib retracement level of the recent decline from the $1,939 swing high to the $1,805 low.
The next major resistance is near the $1,940 zone. A clear move above the $1,910 and $1,940 resistance levels might call for a fresh move to $2,000. Any more gains could even send the price toward the $2,100 resistance zone or even $2,140 in the near term.
On the downside, initial support is near the $1,820 level. The next major support is now near the $1,800 level. A break below the $1,800 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 $1,880 and the 55 simple moving average (4 hours). Overall, Ether’s price could recover, but it is likely to face sellers near the $1,920 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 – $1,820, followed by the $1,800 zone.
Key Resistance$ Levels – $1,870 and $1,900.