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The Ethereum price has corrected the gains and tested the $ 2,320 area. ETH is now in difficulty and could decrease to the support area of $ 2,220.
- Ethereum began a correction from the $ 2,580 area and tested $ 2,320.
- The price is negotiated below $ 2,500 and the mobile average at 100 hours.
- There is a lower connection trend line forming with a resistance of $ 2,540 on the ETH / USD hourly graph (data flow via Kraken).
- The pair could gain in force if it erases the resistance of $ 2,550 in the short term.
Ethereum price drops again
Ethereum Price has struggled to eliminate the resistance of $ 2,520 and started a downward correction, unlike Bitcoin. ETH exchanged below $ 2,500 support levels and $ 2,440.
The Bears were able to push the price below the FIB trace level of 50% of the upward movement of $ 2308 at a level of $ 2,509. The price even increased below the level of $ 2,440, but the Bulls were active near the $ 2,400 area.
The price is stable above the FIB trace level of 61.8% of the upward movement of $ 2308 at a level of $ 2,509. Ethereum Price is now negotiated below $ 2,450 and the Simple mobile average at 100 hours. There is also a lower connection trend line forming with resistance at $ 2,540 on the ETH / USD hourly table.
If there is another increase, the price could face resistance near the level of $ 2,460. The next keys resistance is close to the level of $ 2,500. The first major resistance is close to the level of $ 2,550 and the trend line. A clear decision above the resistance of $ 2,550 could send the price to the resistance of $ 2,580.
An upward rupture above the resistance of $ 2,580 could require more gains in future sessions. In the case indicated, the ether could increase to the resistance zone of $ 2,700, or even $ 2,780 in the short term.
Another drop in eth?
If Ethereum fails to erase the resistance of $ 2,500, this could start a new drop. The initial support for the decline is close to the level of $ 2,400. The first major support is near the $ 2,350 area.
A clear decision below $ 2,350 support could push the price to the $ 2,320 support. Other losses could send the price to the level of support of $ 2,220 in the short term. The following key support is at $ 2,120.
Technical indicators
Schedule macD – The MacD for ETH / USD is gaining momentum in the lower area.
House – The RSI for ETH / USD is now less than zone 50.
Major level of support – $ 2,400
Major resistance level – $ 2,500
