Ethereum Price Recovery Could Soon Fade If ETH Fails To Surpass $1,350

Ethereum began a new decline against the US dollar at $1,350. ETH retested $1255, and is still at risk for further losses.

  • Ethereum experienced a second decline following its failure to surpass the $1375 threshold.
  • The current price trades below $1,320 as well as the simple 100-hour moving average.
  • A key bearish trendline is emerging with resistance close to $1,300 in the hourly chart of Ethereum/USD (datafeed via Kraken).
  • If the pair stays under $1,350 for too long, it could fall sharply.

Ethereum’s Price Goes Red

Ethereum did not gain momentum above the $1350 resistance zone. ETH fell below the $1320 resistance zone and 100 hourly simple moving mean.

The price fell below $1,300 by the bears. The $1,260 support level was tested by the Ether Price. It reached a low of $1,264. The price is consolidating losses. The 100-hourly simple moving average and $1,320 are now the lowest levels of trading.

Surprisingly, resistance is near $1,300. The hourly chart of Ethereum/USD shows a significant bearish trendline with resistance close to $1,300. This trend line lies close to the 23.6% Fib Retracement level for the decline from $1,373 swing highs to $1,264 lows.

Near the $1,320 and 100 hourly simple moving levels is the first major resistance. A 50% Fib level is near $13,318.

Ethereum Price

Source:, ETHUSD

If the price breaks $1,320, it could lead to a substantial increase toward $1,350. If there are more gains, it could open up the possibility of a push towards the $1400 resistance zone. Above that, the price may surge to $1450.

New Decline in the ETH

The $1,320 resistance could be broken and ethereum may begin to fall again. The $1,260 level is the initial support for the downside.

Near the $1,250 support level is the next major support. If the downside breaks below $1,250, the price could drop towards $1,220.  Selling could be increased if there are more losses. The price may drop as low as $1,200, or even lower towards $1,150.

Technical indicators

Hourly MACDMACD of ETH/USD has lost momentum and is currently in the bearish zone.

Hourly RSIThe current RSI level for USD/ETH is just under 50.

Major Support Level – $1,260

Major Resistance Level – $1,320

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