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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.
Sursa: ETHUSD pe TradingView.comUrmătoarea rezistență majoră este aproape de nivelul de 1,350 USD, peste care prețul ar putea chiar să crească spre nivelul de rezistență de 1,440 USD în termen scurt.
Mai multe pierderi în ETH?Dacă Ethereum nu reușește să crească peste rezistența de 1,200 USD, ar putea continua să se miște în jos. Un suport inițial în declin este aproape de zona de 1,150 USD.
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.
Indicatori tehnici
MACD orar – MACD-ul pentru ETH/USD câștigă acum avânt în zona de urs.
RSI orar – RSI pentru ETH/USD este acum mult sub nivelul 50.
Nivel major de suport - $ 1,150
Nivelul major de rezistență - $ 1,200
Sursă originală: NewsBTC