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Ethereum pulled its decline below $ 1,450 against the US Dollar. ETH price is gaining bearish momentum and could even test the $ 1,280 support.

 

 

Pay attention to these levels for Ethereum

ETH price remained in a bearish zone below the $ 1,650 and $ 1,700 resistance levels against the US Dollar.

The price is trading well below $ 1,500 and the 100 simple moving average.

There is a major bearish trend line formed with resistance at $ 1,500 on the 4-hour chart of ETH / USD.

As long as the pair is below $ 1,500, it looks like it will continue to decline towards the $ 1,280 support.

If Ethereum starts a new surge, it could correct above the $ 1,450 resistance. The first major resistance is near the $ 1,500 level and the bearish trend line.

A close above the trend line is needed for a strong rise towards the $ 1,650 resistance. The price must rise above $ 1,700 to start a strong increase. Further gains could open the doors for a move towards the $ 1,800 level.

 

Technical indicators

4-hour MACD: The MACD for ETH / USD is now gaining momentum in the bearish zone.

4 hours RSI – The RSI for ETH / USD is still below the 50 level.

Major Support Level: $ 1,280.

Major Resistance Level – $ 1,500.

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