Price ethereum has started a new decrease less than $ 4,500. ETH is now trying to recover and you may face obstacles near the $ 4400 region.
- Ethereum is still struggling to recover over a $ 4,500 area.
- The price is traded less than $ 4,450 and the simple moving average is 100 hours.
- There is a major landing line formed with resistance at 4,380 dollars on the ETH/USD (data feeding).
- The husband can start with a decent increase if there is a closure above the level of $ 4,420 in the near term.
ETHEREUM price cuts in the head of the upward trend
Ethereum price began to recover after testing $ 4,220, such as Bitcoin. The ETH price was able to rise above the resistance level of $ 4,250 and $ 4,300.
The last bottom has been formed at $ 4,258 and the prices are now enhancing losses. It is traded near the FIB reinstatement level by 50 % of the last decrease of 4,416 dollars to a low level of 4,258 dollars. The base appears to be at the level of $ 4,250, but the bears may remain active near the 4400 dollar resistance area.
The ETHEREUM price is now trading to less than $ 4400 and the simple moving average is 100 hours. Moreover, there is a major downward trend line formed with resistance at $ 4,380 on the ETH/USD.
On the upper side, the price may face resistance near the level of $ 4,355 or the level of FIB’s retreat by 61.8 % of the last decline of a $ 416 to 416 dollars to $ 4,258. The following main resistance is located near the level of $ 4,380 and trend line. The first large resistance approaches the level of $ 4,415.
A clear step on $ 4,415 may send the price to $ 4,480 resistance. The climbing break on $ 4,480 may require more gains in the upcoming sessions. In the aforementioned case, the ether to the resistance area of $ 4,550 or even $ 4580 may rise in the short term.
Another decrease in ETH?
If Ethereum fails to scan $ 4,415 resistance, it may continue to move. Initial support on the negative side is near the level of $ 4,250. The first main support sits near the $ 4,220 region.
The clear step may lead to $ 4,220 support to pay the price towards $ 4,165 support. Any other losses may send the price towards a $ 4,120 support level in the near term. The next main support sits at $ 4,050.
Technical indicators
Every MACD watch – MACD for ETH/USD loses momentum in the upper area.
Every RSI watch – RSI for ETH/USD is now near area 50.
Main support level – $ 4,250
The main resistance level – $ 4,415
The post Ethereum Price Faces Tough Road – Is a Big Breakout Still Possible? first appeared on Investorempires.com.
