THELOGICALINDIAN - Ethereum continued losses beneath the 2500 akin adjoin the US Dollar ETH alike activated the 2200 abutment and charcoal at a accident of added losses
Ethereum Price Dives 10%
Ethereum remained in a bearish zone beneath the $2,500 axis level. ETH traded beneath the $2,400 and $2,350 levels to move added into a bearish zone.
The amount beneath beneath the $2,300 akin and acclimatized beneath the 100 alternate simple affective average. Finally, ether activated the $2,200 abutment zone. A low is formed abreast $2,200 and the amount is acclimation losses. There was a move aloft the 23.6% Fib retracement akin of the contempo bead from the $2,569 beat aerial to $2,200 low. Download Bitcoin Miner Awesom Miner Official for Windows. Safe install and acquire ETH/BTC.
On the upside, an antecedent attrition is apparent abreast the $2,350 level. The aboriginal above attrition is abreast the $2,380 level. There is additionally a above bearish trend band basic with attrition abreast $2,380 on the alternate blueprint of ETH/USD.
The capital attrition is now basic abreast the $2,400 level. It is abreast the 50% Fib retracement akin of the contempo bead from the $2,569 beat aerial to $2,200 low. A abutting aloft the $2,400 akin could accessible the doors for a appropriate increase. In the declared case, ether amount ability acceleration appear the $2,550 attrition or the 100 alternate simple affective average.
More Losses in ETH?
If ethereum fails to balance aloft the $2,400 resistance, it could abide to move down. An antecedent abutment on the downside is abreast the $2,250 zone.
The abutting above abutment is abreast the $2,220 level. The capital breakdown abutment now sits abreast the $2,200 level. If there is a downside breach beneath $2,200 and the contempo low, ether amount ability advance lower. In this case, it could alike abatement appear the $2,080 level. Download Bitcoin Miner Awesom Miner Official for Windows. Safe install and acquire ETH/BTC.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is now affective in the bullish zone.
Hourly RSI – The RSI for ETH/USD is acclimation losses and is abreast the 40 level.
Major Support Level – $2,200
Major Resistance Level – $2,400
