Ethereum declined slightly to $ 1,800 after reaching resistance at $ 1,850. Against Bitcoin, ETH turned to 0.037 BTC support.
Ethereum is down almost 3% after reaching resistance at $ 1,850 (1.618 Fib Extension) so far this weekend. Cryptocurrency was struggling to break $ 1,800 last week. He achieved this on Friday and reached $ 1,850.
The cryptocurrency has failed to overcome resistance at the upper edge of the rising price channel and today fell to $ 1800.
Ethereum price chart
Looking ahead, initial resistance lies at $ 1850. This is followed by 1900, 1960 (1,272 Fib Extension), 2000 and 2061 $ (1,414 Fib Extension). Additional resistance lies at $ 2200.
On the other hand, initial support is at $ 1765. This is followed by $ 1700, 1685 and $ 1560 (.236 Fib & lower bound of the price channel).
The RSI is trending down in February as the price action moves higher and lower peaks. If this happens, ETH may be heading towards the lower bound of the price channel.
- Key Support Levels: $ 1765, 1700 and $ 1685
- Key Resistance Levels: $ 1850, 1900 and $ 1960
Latest situation against BTC
Against Bitcoin, Ethereum is struggling after falling from 0.046 BTC this month. Ethereum has moved between 0.0372 BTC (.5 Fib) and 0.039 BTC over the past six days.
Today, ETH fell below 0.0372 BTC to 0.037 BTC. We need to wait for a daily candle to close today to confirm it broke below 5 Fib Support.