353
140 shares, 353 points

Ethereum price extended its decline below the $2,200 support zone against the US Dollar. According to famous analyst Aayush Jindal, who has made successful predictions, Ethereum price is showing a series of bearish signs and could drop towards $2,000.

  • Ethereum price is down over 10% and even slipped below the $2,100 support zone.
  • Price is currently trading below the $2,200 support and 100 hourly simple moves below the average.
  • There is a major bearish trend line forming with resistance near $2,200 on the saadollarsik chart of ETH/USD (data feed via Kraken).
  • The pair might correct higher, but sellers are likely to remain active near the $2,200 zone.

Ethereum price losses are increasing!

Cryptocoin. com, there was no major recovery in Ethereum above the $2,300 level. Ethereum price remained in the bearish zone and similar to Bitcoin, it broke the main $2,200 support zone to advance into the bearish zone. The price even fell below the $2.150 support, and 100 saadollarsik simple moves settled below the average.

2. There was a drop below $100 and the price tested $2,050. A low was formed near $2,049 and the price is now correcting losses. ETH climbed above the $2,100 resistance. There was a break above the 23.6% Fib retracement level of the drop from the $2.406 low to $2,049 low. Currently, ETH is testing a connecting downtrend line with resistance near $2,150 on the saadollarsik ETH/USD chart.

Master analyst: Ethereum price now targets these levels

An immediate support is near the $2,100 level. The first key support is near the $2,050 level. The main support is currently near the $2,000 region. If there is a downside break below the $2,000 support zone, there is a risk of a sharp decline. The next major support is near the $1,850 level. If Ethereum price stays above the $2,050 support, it could correct higher in the near term.

The initial resistance is near the $2.150 level. The first key resistance could be $2,180. The next major resistance is near the $2,200 level and the 100 hour simple movement average. There is also a major downtrend line forming with resistance near $2,200 on the same chart. Any further gains could push the price towards the $2,300 level in the near term.

Current view of Ethereum price with technical indicators

Saadollarsik MACD:The MACD for ETH/USD is now gaining momentum in the bullish zone.

Saadollarsik RSI:The RSI for ETH/USD is currently close to the 50 level.

Main Support Level:2. 050 dollars.

Main Resistance Level: $2.200.

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