Ethereum struggled to clear $1,150 and started a fresh decline against the US Dollar. ETH price is currently trading well below the 100 hourly SMA and $1,100.
- Ethereum is showing a few bearish signs after getting rejected from the $1,150 resistance zone.
- The price is now trading well below $1,100 y el 100 media móvil simple horaria.
- There is a key bearish trend line in place with resistance near $1,070 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair must settle above $1,120 y el 100 hourly SMA to start a fresh rally.
Ethereum Price Could Decline Again
Ayer, we saw a decent recovery wave in bitcoin, etéreo, ripple and other altcoins. ETH price broke the $1,080 y $1,100 niveles de resistencia. It even spiked above the $1,120 nivel.
sin embargo, the bears defended a major resistance zone near $1,150 y el 100 media móvil simple horaria. A high was formed near $1,152 before the price started a fresh decline. Hubo una ruptura debajo del $1,120 y $1,100 niveles de soporte.
Ether price even declined below the 50% Fib retracement level of the recovery wave from the $910 swing low to $1,152 alto. There is also a key bearish trend line in place with resistance near $1,070 on the hourly chart of ETH/USD.
Fuente: ETHUSD en TradingView.com
If there is no upside break above the trend line resistance and the 100 media móvil simple horaria, there is a risk of more losses. An initial support is near the $1,000 level or the 61.8% Fib retracement level of the recovery wave from the $910 swing low to $1,152 alto.
The next major support is near the $950 nivel, below which ether price might continue to move down towards the $900 y $880 levels in the near term.
Fresh Increase in ETH?
If ethereum breaks the trend line resistance and $1,100, it could start a decent increase. The main resistance is still near the $1,150 zone and the 100 media móvil simple horaria.
A close above the $1,150 level and the 100 hourly SMA could change the current bias. The next hurdle for the bulls above the $1,150 zone is near the $1,220 nivel.
Hourly MACD – The MACD for ETH/USD is struggling to gain pace in the bullish zone.
RSI por hora – The RSI for ETH/USD is still below the 50 nivel, with a bearish angle.
Major Support Level – $1,000
Major Resistance Level – $1,150
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