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Ethereum price started a downside correction from the $1,840 zone against the US Dollar. ETH is still holding the $1,700 support and might attempt a fresh increase.
Ethereum reacted to the downside from the key $1,840 resistance zone.
The price is trading below $1,780 and the 100 hourly simple moving average.
There was a break below a major bullish trend line with support at $1,750 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a fresh increase if it stays above the key $1,700 support zone.
Ethereum Price Corrects Lower
Ethereum price started a downside correction from the $1,820 resistance zone. ETH corrected lower and traded below the $1,800 level, similar to bitcoin.
The fed increased rates, resulting in a drop below the $1,800 level. There was a break below a major bullish trend line with support at $1,750 on the hourly chart of ETH/USD. The pair declined below the $1,750 support zone. A low is formed near $1,713 and the price is now consolidating losses.
Ether price is now trading below $1,780 and the 100 hourly simple moving average. It is testing the 23.6% Fib retracement level of the downward move from the $1,825 swing high to $1,713 low.
On the upside, the price is facing resistance near the $1,760 zone. The next major resistance is near the $1,770 zone and the 100 hourly simple moving average. It is near the 50% Fib retracement level of the downward move from the $1,825 swing high to $1,713 low.
The first major resistance is near $1,800. A close above the $1,800 resistance zone might send the price towards $1,840. If the bulls clear the $1,840 hurdle, there could be a strong upward move.
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Ethereum reacted to the downside from the key $1,840 resistance zone.
The price is trading below $1,780 and the 100 hourly simple moving average.
There was a break below a major bullish trend line with support at $1,750 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a fresh increase if it stays above the key $1,700 support zone.
Ethereum Price Corrects Lower
Ethereum price started a downside correction from the $1,820 resistance zone. ETH corrected lower and traded below the $1,800 level, similar to bitcoin.
The fed increased rates, resulting in a drop below the $1,800 level. There was a break below a major bullish trend line with support at $1,750 on the hourly chart of ETH/USD. The pair declined below the $1,750 support zone. A low is formed near $1,713 and the price is now consolidating losses.
Ether price is now trading below $1,780 and the 100 hourly simple moving average. It is testing the 23.6% Fib retracement level of the downward move from the $1,825 swing high to $1,713 low.
On the upside, the price is facing resistance near the $1,760 zone. The next major resistance is near the $1,770 zone and the 100 hourly simple moving average. It is near the 50% Fib retracement level of the downward move from the $1,825 swing high to $1,713 low.
The first major resistance is near $1,800. A close above the $1,800 resistance zone might send the price towards $1,840. If the bulls clear the $1,840 hurdle, there could be a strong upward move.
Return to Updates
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