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Ethereum Struggles Below $1,700, Why ETH Could Accelerate Losses

by Handy
April 11, 2021
in Ethereum
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Ethereum Struggles Below $1,700, Why ETH Could Accelerate Losses
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Ethereum is struggling to get better above the $1,710 and $1,750 resistance ranges towards the US Greenback. ETH value is more likely to proceed decrease if it fails to remain above the $1,650 assist degree.

  • Ethereum is exhibiting a number of bearish indicators under the $1,750 and $1,710 resistance ranges.
  • The worth is at the moment buying and selling nicely under $1,750 and the 100 hourly easy shifting common.
  • There’s a key bearish development line forming with resistance close to $1,740 on the hourly chart of ETH/USD (knowledge feed through Kraken).
  • The pair may appropriate greater, however it’s more likely to face a robust promoting curiosity close to $1,710 and $1,750.

Ethereum Value Stays At Danger

Ethereum examined the $1,650 assist zone and began an upside correction. It climbed above the $1,700 degree, however it struggled to even take a look at $1,750. A excessive is shaped close to $1,720 earlier than the worth began a recent decline.

It broke the $1,700 degree and retested the $1,660 assist. Ether is now buying and selling nicely under $1,750 and the 100 hourly easy shifting common. A low is shaped close to $1,650 and the worth is at the moment consolidating losses, much like bitcoin.

An preliminary resistance on the upside is close to the $1,685 degree. It’s close to the 50% Fib retracement degree of the latest decline from the $1,721 excessive to $1,650 low. The primary main resistance is close to the $1,700 and $1,705 ranges.

Ethereum PriceEthereum Price

Supply: ETHUSD on TradingView.com

The 76.4% Fib retracement degree of the latest decline from the $1,721 excessive to $1,650 low can also be close to $1,705. Furthermore, there’s a key bearish development line forming with resistance close to $1,740 on the hourly chart of ETH/USD. A transparent break above the $1,720 excessive after which a observe up transfer above $1,750 is should for a recent improve within the close to time period.

Extra Losses in ETH?

If Ethereum fails to climb above the $1,705 and $1,720 resistance ranges, it may proceed to maneuver down. An preliminary assist on the draw back is close to the $1,660 degree.

The principle assist is close to the $1,650 degree. A transparent draw back break under the $1,650 assist is more likely to clear the trail for a pointy decline. Within the said case, the worth may take a look at $1,600 and even $1,580 within the close to time period.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is shedding momentum within the bearish zone.

Hourly RSI – The RSI for ETH/USD continues to be nicely under the 50 degree.

Main Help Degree – $1,650

Main Resistance Degree – $1,720



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Tags: AccelerateETHEthereumlossesstruggles
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