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The price of Ethereum did not tidy USD 1,650 and corrected profits. ETH is now consolidating and can try to recover over USD 1620 resistance.
- Ethereum began a fresh bear reaction from the USD 1650 zone.
- The price is sold below USD 1,600, and a 100-hour straight movable average.
- There was a break below the miniature -term contract triangle with support of 1,595 USD on the ETH/USD hour chart (data channel via Kraken).
- The couple can start a recent growth if they tidy a resistance zone worth USD 1620.
The price of ethereum will fall again
The price of Ethereum remained stable above USD 1520 and began a recent growth, such as Bitcoin. ETH traded above USD 1,600 and USD 1620 before the appearance of bears.
The height was created at USD 1655, and the price began to withdraw freshly. In addition to USD 1,600, there was movement. In addition, there was a break below the miniature -term contract triangle with support of USD 1,595 on the ETH/USD hour chart. The couple tested the USD 1565 zone.
Low was created at 1,564 USD, and the price is currently consolidating around 23.6% of the level of withdrawal of relegation FIB from a height of USD 1,655 to the lowest level of USD 1564.
The price of Ethereum is currently listed below USD 1,600, and a 100-hour basic movable average. On the other hand, the price seems to be charged near USD 1,600. Another key resistance is close to USD 1610 and 50% of the downfall withdrawal level down from $ 1,655 to the lowest level of USD 1564.
The first high resistance is close to USD 1620. A clear movement above USD 1620 can send a price in relation to the resistance of USD 1650. An additional break above USD 1650 may require more benefits in the upcoming sessions. In a certain case, the ether may augment towards the retaining zone in the amount of USD 1720 or even USD 1800 in the near future.
More losses in ETH?
If Ethereum does not tidy the resistance of USD 1620, he may start a fresh drop. Initial support in the minus is close to 1,565 USD. The first enormous support is located near the USD 1550 zone.
A clear traffic below USD 1,550 of support can speed up the price to support USD 1500. Any losses can send a price of USD 1,450 in the near future. Another key support is USD 1420.
Technical indicators
MacD hours – – MacD for ETH/USD takes a rush in the bear zone.
RSI hours – – RSI for ETH/USD is now below zone 50.
Main level of support – USD 1550
Main level of resistance – USD 1620
