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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.
Mohloli: ETHUSD ho TradingView.comKhanyetso e kholo e latelang e haufi le boemo ba $ 1,350, ka holim'a eona theko e ka ba ea phahama ho ea boemong ba ho hanyetsa $ 1,440 nakong e haufi.
Ho Lahleheloa Haholo ho ETH?Haeba ethereum e hlōleha ho phahama ka holimo ho khanyetso ea $ 1,200, e ka tsoela pele ho theoha. Tšehetso ea pele ka lehlakoreng le tlaase e haufi le sebaka sa $ 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.
Technical matšoao
MACD ka hora - MACD bakeng sa ETH/USD e se e ntse e eketseha sebakeng sa libere.
RSI ka hora - The RSI bakeng sa ETH/USD e se e le ka tlase ho boemo ba 50.
Tekanyetso e kholo ea tšehetso - $ 1,150
Tekanyetso e kholo ea ho hanyetsa - $ 1,200
Mohloli oa pele: LitabaBTC