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 price is showing bearish signs below the $1,900 resistance against the US Dollar. ETH could extend its decline toward the $1,780 support.
Ethereum is showing bearish signs below the $1,900 level.
The price is trading below $1,880 and the 100-hourly Simple Moving Average pic.twitter.com/MFgDp8RRw9
— Crypto Trennd (@CryptoTrend786) July 25, 2023
- 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.
— Crypto Talkies – Sentiment Analysis Tool (@crypto_talkies) April 21, 2023
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.
The price formed an ascending channel, and currently #Ether was rejected from the upper border.
As long as the price stays above the middle line of channel (which now corresponds with the $1840 support) — the overall trend is bullish pic.twitter.com/4kT6l7lggj
— Zy™ (@ZyTrades) April 6, 2023
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.
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.
Blur is now destroying your grails.
Punks down over 10 ETH in just one day.
All this wash trading won't be worth it if the token price of Blur keeps falling. The more the Blur price falls, the more people like Machi will need to farm to offset the losses.
Still bullish? pic.twitter.com/0DWUb9HlVu
— HashBastards (@HashBastardsNFT) March 21, 2023
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.