ETH Price Broke The Critical Level!

Ethereum price surpassed the $1,750 and $1,710 support levels against the US Dollar.

ETH price broke the critical level. The popular altcoin broke the $1,750 and $1,710 support levels against the US Dollar. According to Aayush Jindal, who has made a name for himself with his successful analyzes, Ethereum price may be below the support levels of $1,660 and $1,650. Ethereum price did not stay long above the $1,750 and $1,710 support levels. Currently, ETH price is trading well below $1,710 and the 100 hourly simple moving average. There is a major depreciation line with resistance around $1,765 on the hourly chart of ETH/USD. (Data streaming over Kraken). Aayush Jindal said the pair could correct higher, though it could outperform previous support gains near the $1,750 level.

Ethereum May Fall Further

ETH price fell sharply similar to Bitcoin. Ethereum broke through the $1,750 support zone to move into the bearish zone. So much so that ETH price even cleared the $1,710 support level and fell below the 100 hourly simple moving average. In fact, it broke the popular subdivision's $1,680 level to $1,657 and traded at these levels. ETH is currently trading above $1,650. Ethereum slashed the recent drop above the 23.6% Fib retracement level from $1,808 to $1,657. On the upside, the first major resistance is near the $1,710 level, according to Jindal. The 50 percent Fib retracement level of the last decline from the $1,808 level to $1,657. The main resistance is currently forming near the $1,750 zone.

Levels That ETH Price May See Soon

The analyst stated that if Ethereum price breaks above the $1,730 and $1,750 resistance level, it could start a slight rise towards the $1,800 and even $1,850 level. A medium resistance could be near the $1,780 level or the 100 hourly simple moving average. The veteran analyst also said that if Ethereum price cannot break above the $1,730 and $1,750 resistance levels, it could continue to move downward. Aayush Jindal noted that the initial support on the downside was near $1,665 and the next support was near the $1,650 level. In addition, if there is a clear negative break below the $1,650 support, it could lead to a decline towards $1,600. The successful analyst also stated that further losses are likely to push the price towards the $1,550 support in the coming days.

Current Ethereum Price With Technical Indicators

Hourly MACD: The MACD for ETH/USD is slowly losing value in the bearish zone. Hourly RSI: The RSI for ETH/USD is currently well below 50. Major Support Level: $1,650. Major Resistance Level: $1,750.

Source: Kriptokoin.com