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Key Points
- The ETH price is under pressure after breaking the support of $ 210 against the US dollar
- C & # 39; it was a break below an important contractual triangle with support for $ 210 on the hourly chart of Eth / USD (data feed via Kraken).
- The pair is under a lot of pressure and may continue to decline towards the $ 180 level.
The price of Ethereum has recently decreased against the US dollar and bitcoin. ETH / USD could perhaps continue to fall towards the $ 180 level in the short term.
Ethereum price decline
After failing close to the $ 225 level, the ETH price started a downward move against the US dollar. The ETH / USD pair declined the ad traded below support levels of $ 210 and $ 200. There was also a close below the $ 200 level and a simple 100-hour moving average. Also, there was a break below the 50% Fibra retracement level of the last wave from the low of $ 166 to $ 227.
More importantly, it was a break below an important contractual triangle with support for $ 210 on the hourly chart of Eth / DOLLARO STATUNITENSE. The pair dropped to the $ 190 level and found support close to $ 192. On the downside, next support approaches the Fib retracement level of 61.8% of the last wave, from $ 166 low to $ 227 high . A bearish break below the $ 192 level could open the door to further losses. The most important support is close to $ 180, which is close to the Fib retracement level 76.4% of the last wave from $ 166 low to $ 227 high. If the price corrects higher, it may find resistance near $ 200 and $ 205
Looking at the chart, the ETH price in a bearish area could extend declines to $ 190, $ 185 and $ 180. Below this, it could even return to the $ 166 level.
MACD schedule – The MACD is moving into the bearish zone.
RSI timetable – The RSI is currently well below levels 40 and 30.
Major Support Level – $ 190
Major Resistance Level – $ 205
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