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Ether price action is pointing to a bearish bias against the US dollar and bitcoin. The ETH / USD has stabilized below $ 280.00, which is a strong bearish signal
Key Points
Ether has reversed all its earnings and broke the $ 280.00 and $ 270.00 against the US dollar.
A crucial bearish trend line is positioned with resistance at $ 290.00 on the 2-hour chart of the Eth / USD
ETH / BTC is struggling to recover and could extend its decline towards 0.0415BTC .
Technically, the 30-minute chart indicators signal a range model in bullish territory.
Analysis of the prices of the ether
Yesterday we discussed a possible false break above the level of $ 290.00 in ETH / USD. The couple made a reversal and reversed all their earnings to settle below a major support for $ 280.00.
ETH / BTC is under a lot of pressure below the 0.0440BTC support. The pair could perhaps extend its decline to 0.0415BTC, below which Ether will probably test the 0.0400BTC level.
Starting from the 30-minute chart of the ETH / USD, there was a strong decline from the resistance zone $ 298.00-300, 00. The pair fell and broke the support level of $ 280.00 to trade below the last minimum of $ 270.00. A new weekly minimum has been formed at $ 259.56; later, the price corrected some points.
However, the move to the top has been limited, and the price of Ether is following a bearish trendline with resistance at $ 275.00 on the same chart. There should be a bullish break above $ 275.00, the next resistance is $ 280.00 and $ 290.00.
On the downside, initial support waits for $ 268.00, below which the price could test the recent low near $ 260.00. Turning to the 2-hour chart of Eth / USD, the pair is clearly falling from the low of $ 321.12 and may fall below the $ 268.00 short-term pivot.
At the top, the $ 280.00 resistance and a bearish trendline with resistance at $ 290.00 are key barriers for Ether buyers. Only an adequate break above these resistances followed by a close above $ 300.00 could result in further increases in ETH / USD.
30-minute MACD
The MACD is showing negative signs in the bearish zone.
30 minutes RSI
The RSI is currently well below the 50 level.
Important support levels
$ 268.00 and $ 260.00
Important resistance levels
$ 280.00 and $ 290.00
Aayush spent over seven years as a contributor and observer. He specialized in market strategies and technical analysis. It strives to provide entertaining and informative analyzes on the currency and commodity markets. He is a software engineer by profession and loves blogs.
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