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PRICE ETAREUM has started a new decrease and test the $ 2450 area. ETH is now correcting losses and may aim to move higher than 2620 dollars.
- ETHEREUM has started a new decrease less than $ 2750.
- The price is traded near 2,575 dollars and the simple moving average is 100 hours.
- There was a break over the contracting triangle with resistance at $ 2550 on the ETH/USD (data feeding).
- The husband can start a new increase if the $ 2620 region is wiped in the short term.
Ethereum price corrects losses
Price ethereum has started a new decrease less than $ 2,750 and $ 2,620, such as Bitcoin. The price of ETH was traded even below $ 2,500 and a $ 2,440 test.
A decrease was formed at $ 2,441 and the price recently started the recovery wave. There was a step higher than $ 2500 and $ 2520. The price exceeded the level of FIB re -declining by 23.6 % of the transfer to the bottom from the 2880 dollar hall to a decrease of $ 2,441.
Moreover, there was a break over the contract triangle with resistance at $ 2550 on the watch/USD watch chart. ETHEREUM price is now trading near $ 2,575 and a simple moving average for 100 hours.
On the upper side, the price may face resistance near the level of $ 2,585. The next main resistance is located near the 2620 dollar level. The first main resistance approaches the level of $ 2660. It is near the RERLERRTING level by 50 % of the declining move from the 2.880 dollar hallway to a low level of $ 2,441.
You may send a clear step over 2,660 dollars. The price is about $ 2,720. The bullish trend break on $ 2,720 may require more gains in the upcoming sessions. In the aforementioned case, the ether may rise towards the resistance area of $ 2800 or even 2,880 dollars in the near term.
Another decrease in ETH?
If Ethereum fails to scan 2620 dollars, a new decrease may start. Initial support on the downside is near the level of $ 2,540. The first main support sits near the $ 2500 region.
The clear step may lead to the support of $ 2,500 to pay the price towards $ 2440 support. Any other losses may send the price towards the support level of $ 2,420 in the short term. The next main support sits at $ 2,350.
Technical indicators
Every MACD watch – MACD is acquired for ETH/USD momentum in the upper area.
Every RSI watch – RSI for ETH/USD is now higher than 50 regions.
The main support level – $ 2500
The main resistance level – $ 2,620
