Ethereum Slides Again 💔 – $4,000 Key Support in the Spotlig
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Updated at: 3 hours ago
{"content":"Ethereum Slides Again 💔 – $4,000 Key Support in the Spotligh
Below $4,250, Ethereum price fell again. ETH is consolidating and may fall if it breaches $4,120.
Ethereum fell below $4,250.
The price is below $4,280 and the 100-hour SMA.
The hourly ETH/USD chart shows a negative trend line with resistance at $4,360.
Above $4,250 and $4,320, the pair might rise again.
Ethereum Price Drops Sharply
Ethereum fell like Bitcoin after failing to get beyond $4,550. Below $4,450 and $4,350 support levels, ETH fell.
Bears drove prices below $4,120. After a low near $4,000, the price is consolidating losses. There was a brief rebound wave above the 23.6% Fib retracement line of the negative wave from $4,636 swing high to $4,000 low.
Ethereum has fallen below $4,300 and the 100-hour SMA. Price may find resistance at $4,220 on the upside. Around $4,250 is the next major resistance.
The first big barrier is at $4,320, the 50% Fib retracement level of the falling wave from $4,636 swing high to $4,000 low. A clean break over $4,320 might push the price above $4,360. The hourly ETH/USD chart shows a negative trend line with resistance at $4,360.
Breaking $4,360 may lead to additional advances in the future sessions. Ether may soar to $4,450 or $4,550 soon.
Another ETH drop?
Ethereum may fall again if it fails to break $4,220. Near $4,120 is first downside support. Near $4,050 is the first big support.
A decisive break below $4,050 might bring the price near $4,000. More losses might push the price beyond $3,880. Next important support is $3,750.
Tech Indicators
The negative MACD for ETH/USD is growing.
Hourly RSI: ETH/USD is below 50.
Major Support—$4,120
Major Resistance: $4,360
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