Below the $1,900 resistance level for the US Dollar, the price of ether is displaying bearish indicators. ETH may continue to fall until it reaches $1,780 support.

  • Ethereum is displaying negative indicators below $1,900.
  • The price is currently trading below both the 100-hour Simple Moving Average and $1,880.
  • On the hourly chart of ETH/USD (data feed via Kraken), a short-term bullish trend line is developing with support located close to $1,845 (data feed).
  • The pair may continue to fall, possibly reaching the $1,825 and $1,780 levels.

Ethereum Price Drops Further

Below the $1,900 mark, Ethereum’s price stayed in a bearish zone. Similar to Bitcoin, ETH had trouble recovering and continued to go below the $1,880 mark.

Below the $1,850 support level, the price fell. Near $1,832, a new weekly low has been established, and the price is currently reducing its losses. Above $1,850, there was a small recovery wave. The price increased beyond the 23.6% Fibonacci retracement level of the most recent downturn, from the swing high of $1,904 to the low of $1,832.

Currently, the price of ether is below both the 100-hour SMA and the $1,880 mark. On the hourly chart of ETH/USD, there is a short-term bullish trend line starting with support close to $1,845 as well.

On the upside, the $1,870 mark serves as primary resistance. It is quite near where the recent slide from the swing high of $1,904 to the low of $1,832 is retracing 50% of its previous rise. The 100-hour Simple Moving average, or the $1,880 level, serves as the first significant barrier.

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More Losses in ETH?

Ethereum may keep falling if it is unable to overcome the $1,880 resistance. The $1,845 level and the trend line provide initial support on the downside.

Near the $1,825 mark, which the price may fall below, is the first significant support. The $1,780 support level is the next significant level of support. Any additional losses would pave the way for a move in the upcoming sessions toward the $1,720 mark.


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