Ethereum Price has started a recovery wave above the $ 4,150 area. Eth has now returned above $ 4,250 but faces many obstacles near $ 4,300.
- Ethereum started a wave of recovery over the levels of $ 4,200 and $ 4,250.
- The price is exchanged below $ 4,320 and the simple 100 -hour mobile average.
- There is a reliable trend line that is resisted with $ 4,300 on the ETH/USD time chart (data feed via Kraken).
- The couple could continue to move if it is established below the $ 4,180 short -term area.
Ethereum Price faces obstacles
The price of Ethereum has extended losses after a level have occurred close to the $ 4,200 level, such as Bitcoin. The ETH price earned a bearish momentum and exchanged below the support area of $ 4,110.
Bears were able to push the price lower than the $ 4,080 support area. Finally, the price tested the $ 4,065 area. A minimum was trained at $ 4.065 and the price recently started a recovery wave above the FIB retracement level of 23.6% of the recent drop from $ 4.580 swing to a minimum of $ 4,065.
The price was unable to cancel the $ 4,350 area and the FIB retracing level of 61.8% of the recent drop in $ 4,580 swing at the top to a minimum of $ 4,065. There is also a reliable trendy line that is resisted with $ 4,300 on ETH/USD timetable.
The Ethereum price is now exchanged below $ 4,300 and the simple 100 -hour mobile average. On the positive side, the price could face the resistance near the $ 4,300 level. The next resistance to the key is close to the $ 4,350 level.
The first great resistance is close to the level of $ 4,385. A clear move above the resistance of $ 4,385 could send the price to the resistance of $ 4,450. A pause above the resistance of $ 4,450 may require further earnings in the next sessions. In the declared case, the ether could rise to the resistance area of $ 4,500 or even $ 4.550 in the short term.
Another drop in Eth?
If Ethereum cannot cancel the resistance of $ 4,300, he could continue to go down. The initial support on the reverse of the medal is close to the level of $ 4,220. The first large support is located near the $ 4,180 area.
A clear move below the support of $ 4,180 could push the price towards the support of $ 4,120. Other losses may send the price to the support level of $ 4,065 in the short term. The next key support is located at $ 4,000.
Technical indicators
Macd timetable – The MacD for Eth/USD is losing momentum in the bearish area.
TIE TIME – The RSI for Eth/USD is now above the 50 area.
Main support level – $ 4,180
Main resistance level – $ 4,385