Ethereum price extended its decline below $1,920 against the US Dollar. ETH could continue to move down if it breaks the $1,820 support zone.
- Ethereum traded further lower below the $1,920 support.
- The price is trading below $1,920 and the 100-hourly Simple Moving Average.
- There was a break above a major bearish trend line with resistance near $1,860 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start a decent increase if it clears the $1,920 and $1,975 levels.
Ethereum Price Turns Red
Ethereum’s price gained bearish momentum after it settled below the $2,000 support. ETH extended its decline below the $1,950 and $1,920 support levels, similar to Bitcoin.
The bears even pushed the price below the $1,880 support. A low is formed near $1,827 and the price is now consolidating losses. Ether is now trading below $1,920 and the 100-hourly Simple Moving Average. Recently, there was a minor increase above $1,850. There was a break above a major bearish trend line with resistance near $1,860 on the hourly chart of ETH/USD.More Losses in ETH?
If Ethereum fails to clear the $1,920 resistance, it could continue to move down. Initial support on the downside is near the $1,840 level.Hourly MACD – The MACD for ETH/USD is now losing momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is below the 50 level.
Major Support Level – $1,820 Major Resistance Level – $1,920