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Ethereum Price started a recovery wave above the $ 2,020 area. Eth is now consolidating and faces obstacles near the resistance of $ 2,080.
- Ethereum started a wave of recovery above the level of $ 2,020.
- The price is exchanged over $ 2,025 and the simple 100 -hour mobile average.
- There is a lining line of connection with $ 2,010 support on ETH/USD (data feed via Kraken).
- The torque must cancel the resistance levels of $ 2,075 and $ 2,100 to start a decent increase.
The Ethereum price consolidates below the resistance
The Ethereum price was a base above the $ 1,880 level and a recovery wave began, such as Bitcoin. Eth has been able to free $ 1,950 and $ 1.980 resistance levels.
The Bulls pushed the price above the level of $ 2,000. Finally, the price tested the $ 2,100 area. A maximum was formed at $ 2,104 and the price started a reduction correction. There was a move below the level of $ 2,050. The price dropped below the FIB retracement level of 23.6% of the wave up to the top from the swing of $ 1.981 to low at maximum $ 2,104.
The Ethereum price is now exchanged above $ 2,010 and the simple 100 -hour mobile average. There is also a bullish trend line that is formed with $ 2,010 support on ETH/USD timetable.
On the positive side, the price seems to face obstacles near the level of $ 2,075. The next resistance to the key is close to the $ 2,100 level. The first great resistance is close to the level of $ 2,150. A clear move above the resistance of $ 2,150 could send the price to the resistance of $ 2,200.
An upward break above the resistance of $ 2,200 may require further earnings in the next sessions. In the declared case, the ether could rise to the resistance area of $ 2,250 or even $ 2,320 in the short term.
Break on the negative side in ETH?
If Ethereum cannot cancel the resistance of $ 2,100, another decline could start. The initial support on the reverse of the medal is close to the level of $ 2,045. The first large support is located near the $ 2,020 area and the FIB retracement level of 61.8% of the wave upwards from the swing of $ 1,981 per lowest at maximum $ 2,104.
A clear move below the support of $ 2,020 could push the price towards the support of $ 2,010 and the trend line. Other losses may send the price to the support level of $ 1,965 in the short term. The next key support is located at $ 1,920.
Technical indicators
Macd timetable – The MacD for Eth/USD is losing momentum in the bullish area.
TIE TIME – The RSI for Eth/USD is now below zone 50.
Main support level – $ 2,010
Main resistance level – $ 2,100