Cryptocurrency

Ethereum Price Below Key Level! Here are the Next Levels

Ethereum price dropped below the key $2,000 support zone against the US Dollar. According to renowned analyst Aayush Jindal, who has made successful predictions, Ethereum price is showing bearish signs and is at risk of further declines below $1,800.

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  • Ethereum price extended its decline below the $2,000 and $1,920 levels.
  • Price is currently trading well below the $2,000 resistance and the 100 hourly easy moving average.
  • There is a key bearish trend line forming with resistance near $1,940 on the hourly chart of ETH/USD (data feed via Kraken).

  • According to the analyst, it is possible for the pair to continue to decline below the $1,850 and $1,820 support levels.

Analyst: Ethereum at risk of more declines below $1,800

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Cryptocoin. com

As we previously reported as , Ethereum price fell hard against BTC in a similar form. As a result, Ethereum price saw another dip and broke the main $2,000 reinforcement zone. The price gained momentum below the $1,950 support and settled well below the 100 hourly easy moving average. A low was formed near $1,864 and the price is now consolidating losses.

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The first resistance on the upside is near the $1,910 level, according to the analyst. The 23.6% Fib retracement level of the recent decline from the $2,046 low to $1,864 low is also near the $1,910 low. Besides, there is a key bearish trend line forming with resistance near $1,940 on the hourly chart of ETH/USD. The trend line resistance is near the 50% Fib retracement level of the recent drop from the $2,046 low to $1,864 low. The main resistance now sits near the $2,000 level.

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Master analyst: Ethereum price is now going to these levels!

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A close above the $2,000 zone could set the pace for a larger increase in the near term. The next major resistance is near the $2,075 level. Ethereum price could continue to decline if it fails to rise above $1,910 and $1,950. On the downside, the first reinforcement is close to the $1,850 level, according to the analyst.

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(mtag101701)1. A downside break below the $850 support could cause more losses. The first major reinforcement is close to the $1,800 level, according to the analyst. If Ethereum price fails to stay above the $1,800 support, it could drop to the $1,750 swing support. More losses are likely to lead the price to the $1,680 support zone in the coming sessions.

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Technical indicatorsCurrent view of Ethereum price

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Hourly MACD: The MACD for ETH/USD is slowly gaining momentum in the bearish zone.

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Hourly RSI:The RSI for ETH/USD is currently well below the 50 level.

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Main Basis Level:1. 850 dollars.

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Main Resistance Level: $2,000.

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