Ethereum price is struggling to clear the $1,900 resistance against the US Dollar. ETH could gain bearish momentum if there is a close below $1,850.
- Ethereum is showing bearish signs below the $1,920 level.
- The price is trading below $1,900 and the 100 hourly simple moving average.
- There is a key bearish trend line forming with resistance near $1,900 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could fall steadily if the price sustains below $1,900.
Ethereum price remains at risk
Ethereum price made another attempt to establish itself above the $1900 level. However, ETH failed to gain bullish momentum above the $1,900 resistance and started a new decline, similar to Bitcoin.
The price dipped below the $1,885 and $1,875 levels. The bulls are now active above the $1,860 level. A low is formed near $1,863 and the price is now consolidating losses. There is also a key bearish trend line forming with resistance near $1,900 on the hourly chart of ETH/USD.
Ether is trading below $1,900 and the 100 hourly simple moving average. To the upside, immediate resistance is near the $1885 level. It is close to the recent 50% Fibonacci retracement level drop from the $1,903 high to $1,863 low.
The first major resistance is near the $1,890 level or the 100 hourly simple moving average. It is close to the recent drop of the 61.8% Fibonacci retracement level from the $1,903 high to $1,863 low.
Fountain: ETHUSD on TradingView.com
The next major resistance is near the $1900 level and the trend line, above which the price could test the main resistance at $1920. More gains could send Ether towards the $2,000 resistance anytime soon.
More losses in ETH?
If Ethereum fails to clear the resistance at $1900, it could continue lower. Initial support on the downside is near the $1,865 level.
The first major support is near the $1850 level, below which the price could gain bearish momentum. The next major support is near the $1,825 support level. A close below $1825 could trigger strong moves down towards the $1720 level. More losses could open the doors for a move towards the $1,650 support level.
technical indicators
MACD per hour – The MACD for ETH/USD is gaining momentum in the bearish zone.
RSI per hour – The RSI for ETH/USD is now below the 50 level.
Major Support Level: $1,850
Highest Resistance Level: $1,900
