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Price ethereum has started a new decrease from the 2780 -dollar resistance area. ETH is now trading less than $ 2650 and may continue to move.
- ETHEREUM has started a negative correction less than $ 2700.
- The price is traded less than 2650 dollars and the simple moving average is 100 hours.
- There was a lower break from the main bullish trend line that is formed with support at $ 2,625 on the ETH/USD (data feeding across Kraken).
- The pair can extend the losses if it is traded less than the $ 2550 support zone in the short term.
The price of Ethereum decreased again
Price ethereum started a new increase in the support area of $ 2550, overcoming bitcoin. The ETH price was able to recover over the levels of resistance of $ 2,650 and $ 2,750 before the bears appeared.
A height has been formed at $ 2,787 and the prices are now correcting the gains. There was a lower step than the support level of $ 2700. The price has decreased below 50 % of the FIB’s spread from the upward transition from the decrease in oscillation of $ 2,463 to an increase of $ 2,787.
ETHEREUM price is now trading to less than $ 2650 and a simple moving average for 100 hours. Moreover, there was a break below the main bullish trend line that is formed with support at $ 2625 on the watch chart of ETH/USD.
On the upper side, the price may face resistance near the level of $ 2625. The following main resistance is located near the level of $ 2650. The first main resistance approaches the level of $ 2,720. It may send a clear step higher than 2,720 dollars in the price of $ 2,780.
The climbing break on $ 2780 may require more gains in the upcoming sessions. In the aforementioned case, the ether may rise to the resistance area of $ 2880 or even 2950 dollars in the near term.
More losses in ETH?
If Ethereum fails to scan the 2650 dollars resistance, it may start a new decrease. Initial support on the downside is near the 2600 dollar level. The first main support sits near the $ 2,550 area. It is close to the REErmering 76.4 % level of bullish transition from $ 2,463 to a height of $ 2,787.
The clear step may lead to the support of $ 2,550 to pay the price towards $ 2,500 support. Any other losses may send the price towards the support level of $ 2,440 in the short term. The next main support sits at $ 2,400.
Technical indicators
Every MACD watch – MACD is acquired for ETH/USD momentum in the Habboudia area.
Every RSI watch – RSI for ETH/USD is now less than area 50.
The main support level – $ 2550
The main resistance level – $ 2,650
The post Ethereum Price Faces Mild Correction — Support Levels in Focus first appeared on Investorempires.com.
