Ethereum Rally Stalls ⚡ – Is Bullish Momentum Fading? 📊 Et
Muhammad Sheheryar Jamil
Updated at: 3 hours ago
{"content":"Ethereum Rally Stalls ⚡ – Is Bullish Momentum Fading? 📊
Ethereum fell again from $4,765. ETH may continue to lose if it remains below $4,620.
Ethereum is reversing gains below $4,650.
The price is below $4,620 and the 100-hour SMA.
The hourly ETH/USD chart shows a negative trend line with resistance at $4,610.
Above $4,620 and $4,650, the pair might rise again.
Ethereum Drops Again
Ethereum fell again after failing to break $4,765, like Bitcoin. ETH reversed gains and fell below $4,650.
The $4,268 swing low to $4,765 high upward move fell below the 50% Fib retracement line. Bears drove the price below $4,550 and the 100-hourly SMA. The hourly ETH/USD chart shows a negative trend line with resistance at $4,610.
Ethereum has fallen below $4,550 and the 100-hour SMA. Price may find resistance at $4,600 on the upside. Around $4,620 is the next major resistance.
Near $4,650 is the first substantial resistance. A clean break over $4,650 might push the price above $4,720. Above $4,720 barrier might lead to greater advances in the following sessions. Ether may increase to $4,765 or $4,800 soon.
Another ETH drop?
Ethereum may fall again if it fails to break $4,620. The downside has initial support at $4,500. The $4,460 zone and the 61.8% Fib retracement level of the upward run from the $4,268 swing low to the $4,765 high are the first important supports.
A decisive break below $4,460 might bring the stock into $4,385 support. More losses might push the price beyond $4,350. The next support is $4,270.
Tech Indicators
Hourly MACD - ETH/USD MACD is losing bullish momentum.
Hourly RSI: ETH/USD is below 50.
Major Support: $4,460
Major Resistance: $4,620
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