The price of Ethereum has started a recovery wave above USD 2650. Eth is now trying to immaculate the resistance levels of USD 2,880 and USD 2,920.
- Ethereum began a decent upward movement above the zone $ 2620.
- The price is sold below 2,250 USD and a 100-hour straight movable average.
- There was a break below the key stubborn trend line with the $ 2800 service on the ETH/USD hour chart (data channel via Kraken).
- The couple could start a fresh drop if they remain below 2800 USD.
Recovering Ethereum prices may soon disappear
The price of Ethereum has started a recovery wave above USD 2550, such as Bitcoin. ETH was able to exceed the resistance levels of USD 2600 and USD 2620 to go to a low -term positive zone.
The price was able to exceed 50% slimming levels of FIB wave down from a height of USD 3,400 to a low level of USD 2120. Bears, however, seem energetic below the resistance levels of USD 2,880 and USD 2,920. The price increases below again.
There was a break below the key stubborn trend line with support of 2800 USD on the ETH/USD hour chart. The price of Ethereum is currently listed below 2800 USD, and a 100-hour elementary movable average.
On the other hand, the price seems to be charged near the 2,270 USD and 100-hour elementary movable average. The first high resistance is close to USD 2800. The main resistance is currently nearly USD 2920 or 61.8% of the level of recovery of the FIB wave wave down from a height of USD 3,400 to a low level of USD 2120. A clear movement above the resistance 2,920 USD may send a price in relation to resistance of USD 3000.
An additional break above $ 3,000 may require more benefits in the upcoming sessions. In the given case, the ether may augment towards the resistance zone of USD 3050 or even USD USD in the near future.
More losses in ETH?
If Ethereum does not remove resistance of USD 2800, he may start another decrease. Initial support is close to $ 2630 USD. The first immense support is located near the $ 2,600 zone.
A clear traffic below $ 2,600 of support can speed up the price in a support direction of USD 2,500. Any losses can send the price to the support level of USD 2,420 in the near future. Another key support is USD 2,350.
Technical indicators
MacD hours – – MacD for ETH/USD loses the rush in the stubborn zone.
RSI hours – – RSI for ETH/USD is now below zone 50.
Main level of support – USD 2630
Main level of resistance – USD 2800
