Ethereum turns red, which is why ETH recovery may be limited

Ethereum is following a bearish path below $ 4,100 against the US dollar. ETH may recover, but upside could be around $ 4,050 and 4,110.

  • Ethereum extended its fall below the 4,100 and 4,000 support levels.
  • Prices are now trading below $ 4,100 and below the simple moving average in 100 hours.
  • ETH / USD (data feed via Kraken) had a break below a key ascending channel with support near $ 4,150 per hour chart.
  • The pair could extend its fall if there is a break below $ 3,900 in the near term.

Ethereum could extend price losses

Ethereum failed to stay above the স্ত 4,120 and 4,100 support levels. ETH has extended its fall below $ 4,000 and moved into a bearish zone like Bitcoin.

There was also a simple moving average below the $ 4,000 level and in 100 hours. Also, ETH / USD had a break below a key ascending channel with support near $ 4,150 per hour chart. Prices rose below the $ 3,920 level and traded as low as 3,889.

The price of ether is now accumulating losses above the $ 3,900 level. The price is trading above the 23.6% Fib retracement level, moving from $ 4,313 swing high to down $ 3,889. An upward resistance is near the $ 4,010 level and a falling channel on the same chart.

Source: ETHUSD on

The next major resistance is near the 4,100 level. It is close to the 50% Fib retracement level moving from $ 4,313 swing high to down $ 3,889. A break above the, 4,100 level is likely to push the price above the 4,200 level in the near term. Any further gains could push the price to the 4,320 level.

More damage to ETH?

If Etherium fails to recover above the 4,050 and 4,100 resistance levels, it could go down. An initial support on the downside is near the $ 3,950 level.

The first major support is near the $ 3,920 level. Major support is near the 3,900 level. Any further downside could lead the price to $ 3,800 support. The next major support for the bulls is near the $ 3,720 level.

Technical indicators

MACD per hourThe MACD for ETH / USD is slowly gaining momentum in the bullish zone.

RSI per hourETH / USD RSI is still below 50 level.

Main support level – $ 3,900

Major resistance level – $ 4,100

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