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

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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 Struggles

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.

Извор: ETHUSD на TradingView.com

Следниот голем отпор е блиску до нивото од 1,350 долари, над кое цената може дури и да се зголеми кон нивото на отпор од 1,440 долари во блиска иднина.

Повеќе загуби во ЕТХ?

Ако ethereum не успее да се издигне над отпорот од 1,200 долари, може да продолжи да се движи надолу. Првичната поддршка на надолната страна е во близина на зоната од 1,150 долари.

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.

Технички индикатори

Часовен MACD - MACD за ETH/USD сега добива на интензитет во мечешката зона.

УПП за час – УПП за ETH/USD сега е далеку под нивото 50.

Големо ниво на поддршка - 1,150 долари

Големо ниво на отпорност - 1,200 американски долари

Оригинален извор: Новости БТК