Ethereum Price began a new wave of recovery above the area of $ 4,450, but failed. ETH is still fighting and could slide below the $ 4,220 area.
- Ethereum is still struggling to recover above the $ 4,400 zone.
- The price is quoted below $ 4,400 and the simple mobile average of 100 hours.
- There is a short -term channel that is formed with resistance to $ 4,310 in the ETH/USD -hour graph (data food through Kraken).
- The torque could begin a decent increase if there is a closure above the level of $ 4,350 in the short term.
Ethereum’s price remains at risk
Ethereum Price began a recovery wave after forming a base above the $ 4,200 zone, such as Bitcoin. Eth Price was able to rise above the resistance levels of $ 4,350 and $ 4,400 before the bears appeared.
The recent minimum was formed at $ 4,233 and the price is now consolidating losses. There was a minor increase above the FIB recoil level of 23.6% of the recent decrease in the swing of $ 4,491 to a maximum of $ 4,233. However, the bulls face a task uplifted about $ 4,320.
In addition, there is a short -term channel that is formed with resistance to $ 4,310 in the ETH/USD -hour graph. The price of Ethereum is now quoted below $ 4,320 and the simple mobile average of 100 hours. On the positive side, the price could face resistance near the level of $ 4,300.
The following key resistance is close to the level of $ 4,320. The first important resistance is close to the level of $ 4,360 or the 50% FIB display level of the recent decrease in $ 4,491 to the minimum of $ 4,233. A clear movement above the resistance of $ 4,360 could send the price to the resistance of $ 4,420. An upward break over the resistance of $ 4,420 may require more profits in the next sessions. In the established case, Ether could rise to the resistance zone of $ 4,500 or even $ 4,550 in the short term.
More inconvenience in ETH?
If Ethereum cannot eliminate the resistance of $ 4,360, a new decrease could begin. The initial support at the disadvantage is close to the level of $ 4,260. The first important support is close to the $ 4,220 zone.
A clear movement below the $ 4,220 support could boost the price towards the $ 4,200 support. More losses can send the price to the support level of $ 4,160 in the short term. The following key support is at $ 4,120.
Technical indicators
Macd per hour – The MACD for ETH/USD is gaining impulse in the bearish zone.
RSI per hour – The RSI for ETH/USD is now below zone 50.
Important support level: $ 4,220
Greater resistance level: $ 4,360
