Ta: ethereum is turning red, why recovery could be attractive to sellers

Ethereum extended its decline to below the support area of $ 2,200 against the US dollar. The price of ETH is showing signs of decline and will fall further to $ 2,000.

Ethereum fell more than 10% and even jumped below the $ 2100 support area.
The price is currently trading below the $ 2,200 support and 100-hour simple moving average.
Eth / USD has a large downward trend line on the hourly chart with resistance close to $ 2200 (data feed via Kraken).
The pair may move higher, but sellers will likely remain active near the $ 2,200 area.

Ethereum Price Increases Losses
There was no significant improvement in Ethereum above the $ 2300 level. ETH remained in the drop zone and exceeded the main support zone of $ 2200 to move into a drop zone similar to bitcoin.

The price fell below the $ 2150 support and settled below the 100-hour simple moving average. It had a peak of under $ 2100 and the price tested at $ 2050. The tier was set at around $ 2049, and the price is currently adjusting for losses.

As it rises, the resistance is 2100 dollars. It was a break above the Fibonacci correction level of 23.6%, compared with a drop from the fluctuation level of $ 2,406 to $ 2,049. It is currently testing a downward trend line of ETH / USD, which has resisted around $ 2150 on the hourly chart.

Source: ETHUSD-on TradingView.com
Emergency support is near the $ 2100 level. The first big boost is near the $ 2050 level. The main support is now close to the $ 2000 zone. If there is a break below the support area of $ 2000, there is a risk of a sharp drop. The next big boost is close to the $ 1850 level.

Are the benefits limited in ETH?
If Ethereum stays above the $ 2050 support, it could be higher in the short term to rectify the situation. Initial resistance is close to $ 2150.

The first key resistance could be $ 2180. The next big resistance is near the $ 2200 level and the 100-hour simple moving average. A large downward trend line can also be seen on the same chart, which shows resistance around $ 2200. A

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