Ethereum price extended its decline below the $2,200 reinforcement zone against the US Dollar. According to the famous analyst Aayush Jindal, who has made successful assumptions, Ethereum price is showing bearish signs and it could actually drop to $2,000.
- Ethereum price is down over 10% and even slipped below the $2,100 reinforcement zone.
- Price is currently trading below the $2,200 reinforcement and the 100 hourly easy moving average.
- ETH/USD (information feed via Kraken).
- According to the analyst, the pair could correct higher, but sellers are expected to remain active near the $2,200 zone.
There is a major bearish trend line forming with resistance near $2,200 on the hourly chart of
Ethereum price losses are increasing!
Cryptocoin. com, there was no major recovery in Ethereum above the $2,300 level. Ethereum price remained in the bearish zone and broke the main $2,200 support area to move into the bearish zone in a similar form to Bitcoin. The price even dropped below the $2.150 reinforcement and settled below the 100 hourly easy moving average.
2. There was a drop below $100 and the price tested $2,050. A low was formed near $2,049 and the price is now correcting losses. ETH climbed above the $2,100 resistance. There was a break above the 23.6% Fib retracement level of the drop from the $2.406 low to $2,049 low. It is currently testing a contact bearish trend line with resistance near $2,150 on the hourly chart of ETH/USD.
Master analyst: Ethereum price now targets these levels
According to an immediate underlying analyst, it is close to the $2,100 level. The first key reinforcement is close to the $2,050 level, according to the analyst. The mainstay is currently close to the $2,000 region, according to the analyst. If there is a downside break below the $2,000 support zone, there is a risk of a sharp decline. The next major anchor is near the $1,850 level, according to the analyst. If Ethereum price stays above the $2,050 support, it could correct higher in the near term.
The first resistance is close to the $2.150 level, according to the analyst. The first key resistance could be $2,180, according to the analyst. The next major resistance is near the $2,200 level and the 100 hourly easy moving average. There is also a major downtrend line forming with resistance near $2,200 on the up-to-date chart. More benefits could push the price towards $2,300 in the near term.
Current view of Ethereum price with technical indicators
Hourly MACD:The MACD for ETH/USD is now gaining momentum in the bullish zone.
Hourly RSI:The RSI for ETH/USD is currently close to the 50 level.
Main Basis Level:2. 050 dollars.
Main Resistance Level: $2.200.
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