PRICE ETAREUM has started a new recovery wave over the 4,350 dollar area, but it failed. ETH is still struggling and may slip to the area of $ 4,270.
- Ethereum is still struggling to recover over a $ 4400 area.
- The price is traded less than $ 4,350 and the simple moving average is 100 hours.
- There was a break below the bullish direction line with support at $ 4,290 on the ETH/USD (data feeding).
- The husband can start a strong decrease if it settles less than the level of $ 4,220 in the short term.
Ethereum price can slide more
Price ethereum began the recovery wave after it formed a base higher than a $ 4,220 region, such as Bitcoin. The ETH price was able to climb over the resistance level of $ 4300 and $ 4,320 before the bears appeared.
Fear the price to clarify the level of $ 4400. A height was formed at $ 4,383 and the price began to decrease again. There was a step less than $ 4,320. The price has decreased to less than the RENDRACTION level by 50 % of the recent increase in the decrease of 4,234 dollars to an increase of $ 4,383.
Moreover, there was a lower break from the upward trend line with support at $ 4,290 on the H -C -/USD. ETHEREUM price is now trading to less than $ 4,320 and a simple moving average for 100 hours.
On the upper side, the price may face resistance near the level of $ 4,320. The following main resistance is located near the level of $ 4,360. The first large resistance approaches the level of $ 4400. It may send a clear step over $ 4,400 to resist the price of $ 4440. The climbing break on $ 4440 may require more gains in the upcoming sessions. In the aforementioned case, the ether to the resistance area of $ 4,500 or even 4550 dollars may rise in the near term.
More from the negative side in ETH?
If Ethereum fails to scan 4360 dollars resistance, it may start a new decrease. Initial support on the negative side is near the level of $ 4,270. The first main support sits near the $ 4,220 region.
The clear step may lead to a $ 4,220 support to pay the price towards $ 4,200. Any other losses may send the price to the support level of $ 4,160 in the short term. The next main support sits at $ 4,120.
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.
Main support level – $ 4,220
The main resistance level – $ 4,360
The post Ethereum Price Struggles Badly – More Downside Risk if Support Fails first appeared on Investorempires.com.
