TA: Ethereum trims winsten, vaar et Haar Ralli con herstarten

Ethereum did not stand above $ 2400 and launched a serious correction against the US dollar. ETH price is now approaching key support levels of $ 2100 and $ 2080

Ethereum failed to rise above $ 2400 and launched a downward correction.
The price is currently $ 2,200 and trades below the 100-hour simple moving average.
On the hourly ETH / USD chart (data feed via Kraken), there was a break below a large bullish trend line with support close to $ 2200.
The pair are probably showing strong interest in buyers near the $ 2100 and $2000 support levels.

Fixed Ethereum Price Lower
Ethereum has launched a major upward movement above the $ 2000 resistance, similar to bitcoin. The price of ETH rose above the resistance of $ 2250 and the 100-hour simple moving average.

However, the price is facing strong sales interest near the $ 2400 and $ 2,450 levels. The price hit a high of around $ 2431 before beginning a downward correction. It was a significant drop below support levels of $ 2320 and $ 2250.

The price rose 61.8% from a low of $ 2110 to a high of $ 2431. In addition, there was a break below the line of a large upward trend, with support around $ 2200 on the ETH/USD hourly chart.

Source: ETHUSD-on TradingView.com
The price is currently $ 2,200 and trades below the 100-hour simple moving average. On the plus side, the initial resistance is near the $ 2200 level. The next big hurdle for the Bulls will be a level around $ 2,250, followed by $ 2,300. In the near term, a new rally could begin at around $ 2,300.

Is dips limited in ETH?
If Ethereum can’t go above $ 2250 and $ 2300, it can increase the drop. The initial support at the bottom is near the $ 2110 level.

The first big boost is near the $ 2080 level. The big support is now set near the $ 2040 level. Near the 1236 Fibonacci expansion level, with a movement rising from a low of $ 2110 to a high of $ 2431. Bigger losses could set the pace of decline toward $ 2,000

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