TA: Ethereum Turns Red, Why ETH Must Hold This Key Support

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Di, Jun 28, 2022 4:28 AM

TA: Ethereum Turns Red, Why ETH Must Hold This Key Support

Ethereum declined below the $1,200 zone against the US Dollar. ETH is now at a risk of more losses if it fails to stay above the $1,150 support zone.

Ethereum failed to continue higher above the $1,250 and $1,280 resistance levels. ETH formed a high near $1,281 and started a fresh decline.

There was a clear move below the $1,220 and $1,200 support levels. Ether price declined below the 23.6% Fib retracement level of the upward move from the $1,043 swing low to $1,280 high. It is now trading below $1,200 and the 100 hourly simple moving average.

Ether is also consolidating near the 50% Fib retracement level of the upward move from the $1,043 swing low to $1,280 high. An immediate resistance on the upside is near the $1,200 level.

Besides, there is a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH/USD.  The next major resistance is near the $1,250 zone. A close above the $1,250 resistance zone could start a steady increase. In the stated case, the price could clear the $1,280 resistance.

Nkwụghachi isi na-esote dị nso na ọkwa $ 1,350, nke dị n'elu nke ọnụahịa ahụ nwere ike ịrịgo elu na ọkwa nkwụsị nke $ 1,440 na nso nso.

Ọ bụrụ na ethereum adaghị ebili n'elu nkwụsị $ 1,200, ọ nwere ike ịga n'ihu na-agbada. Nkwado mbụ n'akụkụ ala dị nso mpaghara $1,150.

The next major support is near the $1,120 zone. A close below the $1,120 level might put a lot of pressure on the bulls. In the stated case, ether price may perhaps decline towards the $1,050 level or even $1,000 in the coming sessions.

Nka na ụzụ Indicators

MACD elekere - MACD maka ETH / USD na-enweta ugbu a na mpaghara bearish.

Oge awa RSI - RSI maka ETH / USD dị ugbu a n'okpuru ọkwa 50.

Nnukwu Nkwado - $ 1,150

Nnukwu nguzogide - $ 1,200

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