Price analysis of Ethereum: ETH / USD remains at risk of further declines


Key Points

  • The ETH price recovered some points after trading at $ 304.26 against the US dollar.
  • C & # 39; is a bearish trend line in place with resistance to $ 320 on the hourly chart of the Eth / USD (data feed via Kraken).
  • The pair is struggling to overcome resistance levels of $ 320 and $ 328, and remains at a risk below $ 310.

The price of Ethereum remains lower than the US dollar and bitcoin. The ETH / USD must clear the $ 320 and $ 330 resistance to recover towards $ 355.

Ethereum price trend

There were heavy push-ups below $ 348-350 in the price of Ethereum last week week against the US dollar. The ETH / USD pair traded at $ 304.26 and is currently consolidating losses with some positive moves. It exceeded the $ 315 level and exceeded $ 325. There was also a break above the Fib retracement level of 23.6% from the last decline from $ 363.03 higher to $ 304.26 lower .

However, the upward move was limited by the levels of $ 328-330. Furthermore, the Fib retracement level 38.2% of the last decline from the minimum of $ 363.03 to $ 304.26 acted as resistance. In the beginning, there is a bearish trend line in place with resistance to $ 320 on the hourly chart of Eth / USD. Above the resistance of the trendline, the 100-hour moving average is positioned near $ 340. Therefore, there seems to be a resistance group formed between $ 320-340. A higher break could push the price above the resistance zone from $ 348-350 in the short term

 Price analysis of Ethereum ETH USD

Looking at the chart, the ETH price does not show signs Important for a recovery of more than $ 320. Therefore, it could drop by a few points below the $ 315 level before attempting to break the resistance levels of $ 320 and $ 330 again.

MACD timetable – The MACD is predominantly flat in the bearish zone. [19659008] RSI Schedule – The RSI is currently moving flat and is currently below the 50 level.

Main Support Level – $ 310

Strength Level main – $ 330

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