Ethereum Bears Keep Pressing, Why ETH Price Might Revisit This Key Support

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	398,895,099,023	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

398,895,099,023

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	45.96	1.40%	3,321.65	3,321.52	3,321.65

Price Change

Price Change %

Current Price

Bid Price

Offer

45.96

1.40%

3,321.65

3,321.52

3,321.65

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,327.60	3,242.86	3,268.77	3,275.69	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,327.60

3,242.86

3,268.77

3,275.69

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	15:05:47	0.003726	3,321.65	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

15:05:47

0.003726

3,321.65

USD

Price x Volume	Volume	Base Symbol	Related Pairs
72,916,610.16	22,256.89	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

72,916,610.16

22,256.89

Ethereum Bears Keep Pressing, Why ETH Price Might Revisit This Key Support

28/11/2023 4:10am

NEWSBTC

Ethereum price is moving lower from $2,130. ETH is showing a few bearish signs and might decline toward the $1,920 support zone. Ethereum is slowly moving lower below the $2,060 zone. The price is trading below $2,060 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $2,040 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down toward the $1,920 support zone. Ethereum Price Extends Decline Ethereum price started a fresh decline after it struggled near $2,130. ETH formed a high at $2,132 and started a downward movement. There was a move below the $2,100 and $2,080 levels, like Bitcoin. The price even spiked below the $2,000 support. A low was formed near $1,986 and the price is now consolidating losses. There was a minor recovery wave above the $2,020 level. Ether climbed above the 23.6% Fib retracement level of the recent drop from the $2,132 swing high to the $1,986 low. Ethereum is now trading below $2,060 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,040 zone. There is also a major bearish trend line forming with resistance near $2,040 on the hourly chart of ETH/USD. The first key resistance is near the $2,060 level or the 50% Fib retracement level of the recent drop from the $2,132 swing high to the $1,986 low. The next resistance sits at $2,100. A clear move above the $2,100 level could send the price toward the $2,135 resistance zone. Source: ETHUSD on TradingView.com The next resistance is near $2,150, above which the price could aim for a move toward the $2,200 level. Any more gains could start a wave toward the $2,250 level. More Losses in ETH? If Ethereum fails to clear the $2,040 resistance, it could start a fresh decline. Initial support on the downside is near the $2,000 level. The next key support is $1,985. A downside break below $1,985 might send Ether toward the $1,920 support. The key support is now at $1,885, below which there is a risk of a move toward the $1,820 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,985 Major Resistance Level – $2,040

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