Ethereum Price began a new drop below $ 1,620 zone. ETH is now consolidated and could try to get over the resistance of $ 1,620.
- Ethereum started a new drop below $ 1,620 levels and $ 1,600.
- The price is negotiated less than $ 1,620 and the average at 100 hours.
- There was a break above a lower connection line of connection with resistance at $ 1,590 on the ETH / USD hourly CHART (data flow via Kaken).
- The Comptoir de la pair begins a new increase if it meets the resistance zone of $ 1,615.
Ethereum Price faces obstacles
Ethereum Price took place to continue more than $ 1,690 and started a new drop, like Bitcoin. ETH refused supporting levels of $ 1,600 and $ 1,580. It even increases below $ 1,550.
A hollow was formed at $ 1,538 and the price is now trying a recovery wave. There is a level higher than $ 1,580. The price increased above the FIB trace level of 23.6% of the download move from the swing of $ 1,690 high at the lowest of $ 1,538.
In addition, there was a Brek on a downstream trend line connected with resistance at $ 1,590 on the ETH / USD time table. Ethereum Price now exchanges $ 1,620 and the mobile average at 100 hours.
Uplining, the price sees obstacles near the level of $ 1,600. The next key resistance is the level close to $ 1,615 or the FIB 50% rest level of the swing download movement of $ 1690 at $ 1,538. The first major resistance is close to the level of $ 1,655.
A clear decision above the resistance of $ 1,655 could send the price to the resistance of $ 1,700. An upward break above the resistance of $ 1,700 could require more gains in future sessions. In the card indicated, an ether torque goes up to the resistance zone of $ 1,750 or even $ 1,800 in the short term.
Another drop of eth?
If Ethereum fails to erase the resistance of $ 1,615, it begins another drop. The initial support on download is the next level of $ 1,5750. The first major support is near the $ 1,540 area.
A clear decision below the $ 1,540 support could push the price to the support of $ 1,480. Other losses could send the price to the level of support of $ 1,420 in the short term. The next key support is at $ 1,400.
Technical indicators
Schedule macD – The MacD for ETH / USD is a pulmonary momentum in the lower area.
House – The RSI for ETH / USD is now less than zone 50.
Major level of support – $ 1,540
Major resistance level – $ 1,655