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ETHEREUM price has started a negative correction less than $ 1,800. ETH is now testing a $ 1750 region and has fell more than $ 1700.
- Ethereum started a negative correction and was traded below $ 1,780.
- The price is traded less than $ 1775 and the simple moving average for 100 hours.
- There was a lower break than the upcoming bullish trend line with support at 1800 dollars on the ETH/USD (data feeding across Kraken).
- The pair can start with a new increase if the resistance area of $ 1785 is wiped.
Ethereum price begins with negative correction
The price of Ethereum remained stable above the level of $ 1720 and started a new increase, such as Bitcoin. ETH was trading above $ 1,750 and $ 1780. The bulls pumped the price above the level of 1800 dollars.
A height was formed near $ 1850 and the price recently began negatively. There was a 50 % lower step than the FIB reaction level by 50 % of the bullish transition from the decrease in swing of $ 1723 to an increase of $ 1848. The price decreased to less than the level of $ 1,800.
There was a lower break from the upcoming bullish trend line at $ 1,800 on the ETH/USD. The bulls are now active near the RERRERRERNING 76.4 % of the ups off the decrease of swing of $ 1723 to the highest level in $ 1848.
ETHEREUM price is now trading less than $ 1,780 and a simple moving average 100 hours. In the upward direction, the price appears to face obstacles near the level of $ 1775. The next main resistance is close to the level of $ 1,800. The first large resistance approaches the level of $ 1820. A clear step over $ 1820 may send the price to $ 1850 resistance.
The bullish trend break on $ 1850 for more gains in the upcoming sessions. In the mentioned case, the ether may rise towards the resistance area of $ 1920 or even 2000 dollars in the short term.
More losses in ETH?
If Ethereum fails to wipe the $ 1800 resistance, it may start a new decrease. Initial support on the negative side is near the level of $ 1750. The first main support sits near the $ 1700 region.
The clear step may lead to a support of $ 1700 to pay the price towards $ 1,650. Any other losses may send the price towards a $ 1,620 support level in the near term. The next main support sits at $ 1550.
Technical indicators
Every MACD watch – MACD for ETH/USD loses momentum in the Habboudia area.
Every RSI watch – RSI for ETH/USD is now less than area 50.
The main support level – $ 1750
The main resistance level – 1800 dollars
