Ethereum prices struggled below the US $1850 resistance level against the US dollar.ETH prices are now below $1800 and 55 simple moving averages (4 hours)
Ethereum prices struggled below the US $1850 resistance level against the US dollar.
- ETH prices are now below $1800 and 55 simple moving averages (4 hours).
- On the 4-hour chart (data from Coinbase), there is a main bearish trend line formed, with resistance level around $1775.
- If it remains below $1775 and $1800, the currency pair may continue to decline.
The price of Ethereum fell below US $1800 against the US dollar. There is still a risk of further decline in ETH/USD below the support area of $1720.
Welcome to join us, official account: Chen is bad, not bad
Ethereum price analysis
Last week, the exchange rate of Ethereum against the US dollar began to fall below US $1850. ETH prices have entered a bearish zone below the $1800 level.
There is a sharp movement below $1780. Before the price began to correct upwards, the low point formed around $1716. The price has climbed to several points above $1750. There was a surge above the 23.6% Fibonacci retracement level, which moved down from the swinging high of $1898 to the low of $1716.
However, the price is still below $1800 and 55 simple moving averages (4 hours). On the positive side, the price is currently facing resistance around $1760.
The next major resistance level is around $1775. There is also a main bearish trend line forming on the 4-hour chart, with resistance around $1775. A 50% Fibonacci retracement level that is significantly higher than the resistance level of $1800 or moves downward from the swing high of $1898 to the low of $1716.
Any further increase may even push prices into the resistance zone of $1850 or even $2000 in the short term. On the downside, the initial support level is around $1720. The next major support level is now close to the $1700 level. Falling below the support level of $1700 may push the price up to $1640. If the bulls fail to protect the support level of $1640, the price may fall towards $1600.
Ethereum price
Ethereum price 1,800 55 4 1,775 1,800
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
