TA: Ethereum Faces Hurdles, Here’s What Could Trigger Strong Recovery


Ethereum prolonged its decline and traded near the $1,700 zone in opposition to the US Dollar. ETH value is recovering, however it’s dealing with a powerful resistance close to $2,200.

  • Ethereum prolonged its decline beneath the $2,000 and $1,800 assist ranges.
  • The value is properly beneath the $2,500 stage and the 100 hourly easy transferring common.
  • There is a serious bearish development line forming with resistance close to $2,200 on the hourly chart of ETH/USD (knowledge feed through Kraken).
  • The pair should clear $2,200 and $2,400 to begin an honest restoration within the close to time period.

Ethereum Price is Facing a Major Resistance

Ethereum failed to remain above the $2,000 assist stage and it extended its decline. ETH even broke the $1,800 stage and it settled properly beneath the 100 hourly easy transferring common.

It traded as little as $1,731 and lately began an upside correction. Ether climbed above the $1,800 and $1,850 resistance ranges. There was a break above the 50% Fib retracement stage of the current decline from the $2,495 swing excessive to $1,731 low.

However, it’s now dealing with a powerful resistance close to the $2,200 stage. There can also be a serious bearish development line forming with resistance close to $2,200 on the hourly chart of ETH/USD.

Source: ETHUSD on TradingView.com

The development line is near the 61.8% Fib retracement stage of the current decline from the $2,495 swing excessive to $1,731 low. A transparent break above the development line resistance might set the tempo for a powerful transfer above $2,200. The subsequent key resistance is close to $2,400 and the 100 hourly simple moving average. Any extra features could lead on the worth in direction of the $2,800 stage.

Fresh Decline in ETH?

If Ethereum fails to proceed greater above the $2,200 and $2,400 resistance ranges, it might begin one other decline. An preliminary assist on the draw back is close to the $2,000 stage.

The first key assist is close to the $1,800 stage. The primary assist is now forming close to the $1,700 stage and a connecting assist development line. Any extra losses might set off a bigger decline in direction of $1,500 within the coming periods. The subsequent main assist is close to the $1,200 stage.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly dropping tempo within the bullish zone.

Hourly RSIThe RSI for ETH/USD is struggling to remain above the 50 stage.

Major Support Level – $2,000

Major Resistance Level – $2,200



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