Ethereum price extended its slide below $1,900 against the US Dollar. ETH is testing the support at $1,825 and is currently attempting a further rise.
- Ethereum is down more than 2% and there was a move below $1,900.
- The price is trading below $1,890 and the 100 hourly simple moving average.
- There was a break below a connecting bullish trend line with support near $1,905 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could try a further rise, but the upside could be limited to near $1,900.
Ethereum price extends losses
Ethereum price struggled to gain pace above the $1,955 resistance. ETH started another decline and traded below the key support at $1900, similar to Bitcoin.
The price even dipped below the $1,850 level. Additionally, there was a break below a connecting uptrend line with support near $1,905 on the hourly chart of ETH/USD. However, the bulls were active near the last pivot zone at $1,825. A low is formed near $1,825 and the price is now attempting a further rise.
Ether is now trading below $1,890 and the 100 hourly simple moving average. Immediate resistance is near the $1,855 level. It is close to the 23.6% Fibonacci retracement level of the recent drop from the $1,955 high to $1,825 low.
The first major resistance is near the $1,890 zone or the 100 hourly simple moving average. The next major resistance is near the $1,905 level. It is close to the 61.8% Fibonacci retracement level of the recent drop from the $1,955 high to $1,825 low.
Fountain: ETHUSD on TradingView.com
A clear move above the $1905 resistance could push the price towards $1955. The next major resistance is near the $1,975 level. Further gains could send Ether towards the $2,050 resistance.
More losses in ETH?
If Ethereum fails to clear the resistance at $1855 or $1890, it could continue lower. Initial support on the downside is near the $1,840 level.
The first major support is near the $1,825 level. The next big support is near the $1,770 level. If there is a move below the $1770 support, the price could drop towards the $1720 support level.
technical indicators
MACD per hour – The MACD for ETH/USD is losing momentum in the bearish zone.
RSI per hour – The RSI for ETH/USD is now below the 50 level.
Major Support Level: $1,825
Highest Resistance Level: $1,890