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The price of Ethereum has started a downward correction below USD 1,800. ETH is now testing the 1750 USD zone and can go further in the direction of 1700 USD.
- Ethereum began a downward correction and traded below USD 1780.
- The price is sold below USD 1,775 and a 100-hour straight movable average.
- Below the connecting trend line combined with support at USD 1800 at the ETH/USD hour chart (data channel via Kraken).
- The couple can start a modern growth if they cleanse the resistance zone worth USD 1,785.
The price of Ethereum begins the downward correction
The price of Ethereum remained stable above USD 1720 and began a modern growth, such as Bitcoin. ETH traded above USD 1,750 and USD 1780. Bulls even pumped the price above USD 1800.
The highest level was created nearly USD 1850, and the price has recently started a downward correction. There was a traffic below 50% of the upward level of Movement FIB from $ 1,723 to the highest level of $ 1,848. The price dropped even below 1,800 USD.
There was a break below the stubborn trend line with support at USD 1800 on the ETH/USD hour chart. Bulls are now vigorous near 76.4% of the level of FIB Movement FIBs from $ 1,723 swings up to $ 1,848.
The price of Ethereum is currently listed below USD 1,780 and a 100-hour uncomplicated movable average. On the other hand, the price seems to be charged near USD 1775. The next key resistance is close to 1,800 USD. The first high resistance is nearly USD 1,820. A clear traffic above 1,820 USD resistance can send a price up to 1,850 USD.
An additional break above USD 1,850 resistance may require more benefits in the upcoming sessions. In the given case, the ether may raise towards the $ 1,820 resistance zone or even USD 2000 in the near future.
More losses in ETH?
If Ethereum does not pristine the resistance of USD 1,800, he may start a fresh drop. Initial support in the minus is close to USD 1750. The first immense support is located near the USD 1700 zone.
A clear traffic below USD 1,700 of support can speed up the price for support of USD 1650. Any losses can send the price to the support level of USD 1620 in the near future. Another key support is USD 1550.
Technical indicators
MacD hours – – MacD for ETH/USD loses the rush in the bear zone.
RSI hours – – RSI for ETH/USD is now below zone 50.
Main level of support – USD 1750
Main level of resistance – USD 1800
