The price of Ethereum against the US dollar continued to fall below $1,900. ETH is currently attempting a new rise while testing the $1,825 support.
Ethereum is down more than 2%, as the price dropped under $1,900.
The price is currently trading below both the 100-hour Simple Moving Average and $1,890.
On the hourly chart of ETH/USD (data feed through Kraken), a break below a connecting positive trend line with support close to $1,905 occurred.
The pair might try to advance again, but gains might be limited by $1,900.
Ethereum Price Extends Losses
The price of Ethereum failed to get above the $1,955 barrier. Similar to Bitcoin, ETH started another slide and traded beneath the crucial support of $1,900.
Even below $1,850 was reached, the price fell. On the hourly chart of ETH/USD, a break below a connecting positive trend line with support close to $1,905 also occurred. The bulls, though, were aggressive close to the last pivot zone around $1,825. The price has created a low near $1,825 and is currently trying to rise again.
Ether is currently trading below both the 100-hour Simple Moving Average and the $1,890 mark. Near $1,855 is where immediate resistance is located. It is very near the 23.6% Fib retracement level of the most recent decline from the swing high of $1,955 to the low of $1,825 in price.
The 100-hourly Simple Moving Average or the $1,890 region serves as the first significant resistance. Near the $1,905 mark, there is the next significant barrier. It is very near the 61.8% Fib retracement level of the most recent decline from the swing high of $1,955 to the low of $1,825 in price.
The price may climb toward $1,955 if there is a clear move above the $1,905 resistance. Near the $1,975 mark, there is the next significant barrier. Additional gains might push Ether closer to the $2,050 obstacle.
More Losses in ETH?
Ethereum may continue to decline if it is unable to overcome the $1,855 or $1,890 resistance levels. Near $1,840 is where initial support on the downside is located.
The $1,825 mark serves as the first significant support. Near the $1,770 mark is the next significant support. The price may fall into the $1,720 support level if a move is made below the $1,770 support.