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Ethereum Forecast: Lack of confidence leads to ETH price continuing below $4,000  Ethereum price started a correction below $4,120. ETH is falling below $4,000 and may fall further if it falls below $3,880.
Ethereum price drops furtherEthereum price failed to remain in the rising range and started a new round of decline, just like... Bitcoin ETH price fell below $4120 and $4050, entering the bear market zone. The price clearly fell below the 61.8% Fibonacci retracement level of the advance from the $3,708 low to $4,252 high. Additionally, a downward trendline is forming on the hourly chart of ETH/USD with resistance near $4,000. Ethereum price is currently trading below $4,000. 100 Hourly Simple Moving Average If the price continues to rise, it may find resistance near $4,000 as well as the trend line. The next key resistance is near $4,030 and the 100 hourly simple moving average.  The first major resistance level is near $4,080. If the price effectively breaks the $4,080 resistance, a move towards the $4,120 resistance is likely. An upward break above the $4,120 area could lead to more gains in the coming sessions. In this case, Ethereum price could rise towards the $4,200 resistance area or even $4,220 in the short term. ETH loses more?If Ethereum fails to break above the $4,000 resistance, it could start a new leg lower. Initial support on the downside is near $3,880. The first major support is near $3,840, which also marks the 76.4% Fibonacci retracement level of the advance from the $3,708 low to $4,252 high. If the price falls significantly below the support at $3,840, a move down to the support at $3,750 is possible. If the price falls further, a further dip to the $3,700 area is possible in the short term. The next key support levels are at $3,650 and $3,620. Technical indicators Hourly MACD – The MACD indicator for ETH/USD is accelerating its weakness within the bearish zone. Hourly RSI – The RSI indicator for ETH/USD is currently below the 50 area. Major Support – $3,880 Major Resistance Level – $4,000 Click on the blue text Follow us  Part.1 High return   50~90% understand everything! We have long-term and in-depth cooperation with major platforms. If you need help, please contact me privately! Top-notch rebates from major firms! Officially open! Safe and stable, large quantity can be discussed! ! ! Find the head and avoid detours. Part.2 AI Quantitative Robotics  The AI robot quantitative strategy automatic trading system can provide a full range of system robots! Anyone in need is welcome to consult! ! ! Part.3 Foreign exchange MT5 investment promotion   Foreign exchange investment: MetaQuotes MT5 Conditions: Provide 100% market maker authority to high-quality agents! (The platform only reserves a very low selling order cost, and all 100 is given to the market maker for selection! Industry's top ceiling conditions and system follow-up advantages) Compliant, licensed and supervised by multiple countries, stable and safe! Log in to the AstralX digital currency trading platform simultaneously! More flexibility and freedom of entry and exit! Provides a full range of follow-up systems/EA/quantitative strategies/robots! Anyone in need is welcome to consult! ! ! Part.4 International futures (internal and external trading) investment promotion   International futures/internal and external markets/BoYi/Zhixing International futures main account sub-account/Yisheng/Polestar/Zhixing/Build/(conditions 90/95/100%/reserve 2~4 US dollars, large amount can be negotiated) Provides a full range of follow-up systems/EA/quantitative strategies/robots! Anyone in need is welcome to consult! ! ! Disclaimer: All the content of this ID editor comes from his own or quoted from public reports in the media! If there is any infringement, please contact us to delete it! The content and views are for reference only and do not provide any practical opinions and suggestions! The content of this article does not provide any guidance or influence, please read with caution! The market is risky, so be cautious when entering the market!  Welcome to consult  丨If you need a platform or provide AI robot technology, please consult us. AuG999Q    |
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