Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Ethereum News & Updates => Topic started by: Sharpmax on July 02, 2021, 11:13:51 PM
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Ethereum failed to stay above $2,100 and it is now moving lower against the US Dollar. ETH price is likely to continue lower and it could even break $2,000.
Ethereum started a fresh decline from well above the $2,200 support zone. The price is now trading below $2,100 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $2,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline heavily if there is a break below the $2,000 support zone in the near term.
Ethereum Price Is Gaining Bearish Pace
After struggling to stay above $2,250, ethereum started a fresh decline. ETH broke the $2,200 and $2,150 support levels to move into a short-term bearish zone.
The price gained pace below the $2,150 level and it even broke $2,120. There was a break below the 23.6% Fib retracement level of the upward move from the $1,718 swing low to $2,289 high. There was also a break below a major bullish trend line with support near $2,100 on the hourly chart of ETH/USD. The pair is now trading below $2,100 and the 100 hourly simple moving average. An immediate support on the downside is near the $2,050 level. The first major support is near the $2,000 level.Source (https://cryptonews.net/938063/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)