Faisal Khan Bangash
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#etherium Ethereum Price Dips Further
Ethereum price failed to stay above $2,150 and started a fresh decline, like Bitcoin. ETH price dipped below $2,120 and $2,080 to enter a bearish zone.
The bears even pushed the price toward $2,020. A low was formed at $2,032, and the price is now consolidating losses near the 23.6% Fib retracement level of the downward move from the $2,199 swing high to the $2,032 low. There is also a key bearish trend line forming with resistance at $2,135 on the hourly chart of ETH/USD.
Ethereum price is now trading below $2,120 and the 100-hourly Simple Moving Average. If the bulls remain in action above $2,020, the price could attempt another increase. Immediate resistance is seen near the $2,100 level.
The first key resistance is near the $2,120 level or the 50% Fib retracement level of the downward move from the $2,199 swing high to the $2,032 low. The next major resistance is near the $2,135 level and the trend line. A clear move above the $2,135 resistance might send the price toward the $2,200 resistance. An upside break above the $2,200 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,245 resistance zone or even $2,320 in the near term.
Ethereum price failed to stay above $2,150 and started a fresh decline, like Bitcoin. ETH price dipped below $2,120 and $2,080 to enter a bearish zone.
The bears even pushed the price toward $2,020. A low was formed at $2,032, and the price is now consolidating losses near the 23.6% Fib retracement level of the downward move from the $2,199 swing high to the $2,032 low. There is also a key bearish trend line forming with resistance at $2,135 on the hourly chart of ETH/USD.
Ethereum price is now trading below $2,120 and the 100-hourly Simple Moving Average. If the bulls remain in action above $2,020, the price could attempt another increase. Immediate resistance is seen near the $2,100 level.
The first key resistance is near the $2,120 level or the 50% Fib retracement level of the downward move from the $2,199 swing high to the $2,032 low. The next major resistance is near the $2,135 level and the trend line. A clear move above the $2,135 resistance might send the price toward the $2,200 resistance. An upside break above the $2,200 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,245 resistance zone or even $2,320 in the near term.
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