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The Ethereum price is supported above the level of $ 1,980. ETH is now rising and may aim to move higher than $ 2050 resistance.
- Ethereum corrected less and tested the support level of $ 1980.
- The price is traded less than $ 2040 and the simple moving average is 100 hours.
- There is a declining directional line connected to resistant at $ 2050 on the ETH/USD (data feeding).
- The pair should give the resistance levels of $ 2,050 and $ 2,100 to start a decent increase.
Ethereum price face resistance
ETHEREUM price failed to continue above 2100 dollars and correct some gains, such as bitcoin. ETH decreased to less than $ 2,020 and $ 2000 support levels.
I tested the $ 1980 region. A decrease has been formed at $ 1982 and the price rises again. There was a step above 2000 dollars. The price exceeded the level of FIB re -declining by 23.6 % of the last decline in the elevation of $ 2097 to the lowest level at $ 1,982.
Ethereum price is now trading to less than $ 2040 and a simple moving average for 100 hours. There is also a declining trend line that is formed with resistance at $ 2050 on the ETH/USD watch chart.
In the upward direction, the price appears to face obstacles near the level of $ 2040 and the FIB decline level by 50 % due to the last decrease in the height of the tower of $ 2097 to less than 1982 dollars. The next main resistance is close to the level of $ 2050. The first large resistance approaches the level of $ 2,100.
You may send a clear step over $ 2,100 resistance, the price is about $ 2,150. The bullish trend break on $ 2,150 resistance may require more gains in the upcoming sessions. In the aforementioned case, the ether may rise towards the resistance area of $ 2,250 or even 2,320 dollars in the short term.
More losses in ETH?
If Ethereum fails to wipe the resistance of $ 2050, it may begin to decrease. Initial support on the downside is near the level of $ 2000. The first main support sits near the $ 1980 region.
The clear step may lead to a support of $ 1,980 to pay the price towards $ 1,920 and trend line. Any other losses may send the price to the support level of $ 1880 in the short term. The next main support sits at $ 1,810.
Technical indicators
Every MACD watch – MACD for ETH/USD loses momentum in the upper area.
Every RSI watch – RSI for ETH/USD is now less than area 50.
The main support level – 2000 dollars
The main resistance level – 2050 dollars
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