- The price of the ETH negotiated below $ 114 and $ 112 supports levels to move to a downtown area against the US dollar.
- There is a trend line with a strong bearish trend formed with resistance to $ 112 in the hourly graph of ETH / USD (data feed through Kraken).
- The couple can correct a few points, but you're likely to face vendors close to the $ 112 or $ 114 level.
The price of Ethereum made a strong downward turn against the US dollar and bitcoin. ETH / USD now trades in a downtown area and could continue to drop to $ 104.
Price analysis of Ethereu
In the weekly analysis, we commented the following possible jump in the price of the ETH above $ 120 or below $ 114 against the US dollar. The ETH / USD pair did not achieve a boost above the resistance levels of $ 116 and $ 118. As a result, there was a downlink below the support of $ 114. The couple even broke the support of $ 112 and it changed significantly below the moving average of 100 hours. The decline was such that the price was changed even below the level of $ 110 and a new low was formed near $ 109.
At the moment, the price is consolidating losses close to $ 110, with a low angle. An initial resistance is close to 23.6% Fib retraction level from the recent decline from $ 117 to $ 109 low. More importantly, there is an important bearish trend line formed with resistance to $ 112 in the ETH / USD timetable. It will not be easy for buyers to clean resistance to the trend line and $ 112. The next obstacle is close to the level of $ 113. It coincides with the rebate level of the Fib 50% of the recent decline from $ 117 to $ 109 low.
As for the table, the price of the ETH is clearly listed in a bass area below the levels of $ 114 and $ 112. If there is an upward correction, it is likely that the price will face To many vendors about $ 112, $ 113 and $ 114.
Technical indicators ETH
MACD per hour – The MACD for ETH / USD is now largely in the bearish zone.
RSI per hour – The RSI for ETH / USD is currently in the area of revenge, but with no recovery signal.
Main support level: $ 104
Main resistance level: $ 112