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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 started a fresh decline from the $1,250 and $1,280 levels. The price is now trading below $1,200 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline sharply if there is a clear move below the $1,150 support zone. Ethereum Price StrugglesEthereum 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.
Sumber: ETHUSD ing TradingView.comResistance utama sabanjure cedhak level $ 1,350, ing ndhuwur rega bisa munggah menyang level resistance $ 1,440 ing wektu sing cedhak.
Liyane Kerugian ing ETH?Yen ethereum gagal munggah ing ndhuwur resistance $1,200, bisa terus mudhun. Dhukungan awal ing sisih ngisor cedhak zona $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.
pratondho Technical
MACD saben jam - MACD kanggo ETH / USD saiki entuk momentum ing zona bearish.
RSI saben jam - RSI kanggo ETH / USD saiki ana ing sangisore level 50.
Tingkat Dhukungan Utama - $ 1,150
Tingkat Resor Utama - $ 1,200
Sumber asli: NewsBTC