Ethereum Price has started a new recovery wave above the $ 4,450 area but has failed. Eth is still fighting and could slide under the $ 4,220 area.
- Ethereum is still fighting to recover above the $ 4,400 area.
- The price is exchanged below $ 4,400 and the simple 100 -hour mobile average.
- There is a short -term down channel that is resisted with $ 4,310 on the ETH/USD time chart (data feed via Kraken).
- The torque could start a decent increase if there is a closure above the $ 4,350 level in the short term.
Ethereum’s price remains at risk
Ethereum Price started a recovery wave after making a base above the $ 4,200 area, such as Bitcoin. Eth Price was able to rise above the resistance levels of $ 4,350 and $ 4,400 before bears were displayed.
The recent minimum has been trained at $ 4,233 and the price is now consolidating the losses. A smaller increase higher than the FIB retracement level of 23.6% of the recent drop of $ 4,491 at a maximum of $ 4,233 has occurred. However, Bulls face an uphill task near $ 4,320.
In addition, there is a short -term down channel that is formed with $ 4,310 resistance on ETH/USD timetable. The Ethereum price is now exchanged below $ 4,320 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 $ 4,320 level. The first great resistance is close to the level of $ 4,360 or the FIB retracement level of 50% of the recent drop of $ 4,491 high at a minimum of $ 4,233. A clear move above the resistance of $ 4,360 could send the price to the resistance of $ 4,420. An upward break above $ 4,420 resistance 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.
More disadvantage in ETH?
If Ethereum cannot cancel the resistance of $ 4,360, a new decline could start. The initial support on the reverse of the medal is close to the level of $ 4,260. The first large support is located near the $ 4,220 area.
A clear move below the support of $ 4,220 could push the price towards the support of $ 4,200. Other losses may send the price to the support level of $ 4,160 in the short term. The next key support is located at $ 4,120.
Technical indicators
Macd timetable – The Macd for Eth/USD is gaining momentum in the bearish area.
TIE TIME – The RSI for Eth/USD is now below zone 50.
Main support level – $ 4,220
Main resistance level – $ 4.360