18 hour ago
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BEARISH 📉 : Ethereum struggles below $1,980 amid potential further decline risks
Ethereum's price is experiencing a downtrend, trading below $1,980 and the 100-hourly Simple Moving Average, with risks of further decline below $1,920.
- ETH failed to maintain gains above $2,000, initiating a decline similar to Bitcoin.
- The price has dipped below significant levels, entering a bearish zone.
- A bearish trend line offers resistance at $1,960 on the ETH/USD hourly chart.
- Immediate resistance lies near $1,960, with further resistance levels at $2,000 and $2,050.
- A move above $2,050 could push the price towards $2,150 or higher.
Potential Downside
- If ETH fails to surpass $1,960, it may face a fresh decline.
- Initial support is at $1,920, with major support at $1,900.
- A fall below $1,900 could lead to $1,845 or lower, possibly hitting $1,750.
Technical Indicators:
- Hourly MACD: Bearish momentum increasing.
- Hourly RSI: Below 50, indicating weakness.
Key Levels:
- Major Support: $1,900
- Major Resistance: $2,000