Ethereum Price Declines Below $4,550 With Potential Further Losses
Ethereum Price Update
- Ethereum is correcting downwards, currently below $4,550 and the 100-hourly SMA.
- A rising channel with support at $4,460 is forming on the hourly ETH/USD chart.
- Resistance levels to watch are $4,520 and $4,550.
- If ETH moves above $4,585, it may rise towards $4,620, potentially reaching $4,750.
- If ETH fails to break $4,550 resistance, it might decline further.
- Key support levels are at $4,420 and $4,320, with major support at $4,150.
Technical Indicators
- Hourly MACD: Gaining momentum in the bearish zone.
- Hourly RSI: Below 50.
- Major Support Level: $4,420
- Major Resistance Level: $4,550