Ethereum Price Prediction: ETH bears eye key support line below $1,500

ETH/USD stays depressed near lowest levels in three weeks.
Bearish MACD, failures to regain 50-day SMA favor sellers.
100-day SMA adds to the downside filters, 12-day-old resistance line offers extra challenge to recovery moves.

Ethereum fails to bounce off early March lows while taking rounds to $1,590 by the press time of early Thursday. In doing so, the quote keeps a downside break of $1,720-30 horizontal resistance area, established since February 05 and comprising 50-day SMA off-late.

Not only the failures to rebound beyond the key resistance but bearish MACD also direct ETH/USD towards an ascending support line from November 01, 20220, around $1,485 by the time of writing.

Although Ethereum bears are likely to catch a breather around the key support line, failures to do so will highlight the $1,400 threshold and 100-day SMA near $1,375 as the following rest-points to watch.

It’s worth mentioning that the quote’s corrective pullback beyond $1,730 is a green pass to the ETH/USD bulls as multiple trend lines close to $,1830 and $1,900 will be challenging them afterward.

Overall, Ethereum isn’t the one that is likely to recall the bulls, for now. However, the further selling depends upon how well the quote drops below crucial nearly supports.

ETH/USD daily chart

Trend: Further downside expected

Additional important levels

Overview
Today last price	1593
Today Daily Change	-75.09
Today Daily Change %	-4.50%
Today daily open	1668.09

Trends
Daily SMA20	1763.3
Daily SMA50	1723.33
Daily SMA100	1365.57
Daily SMA200	898.71

Levels
Previous Daily High	1723.61
Previous Daily Low	1651.58
Previous Weekly High	1931.97
Previous Weekly Low	1706.25
Previous Monthly High	2041.42
Previous Monthly Low	1271.31
Daily Fibonacci 38.2%	1679.1
Daily Fibonacci 61.8%	1696.09
Daily Pivot Point S1	1638.58
Daily Pivot Point S2	1609.06
Daily Pivot Point S3	1566.55
Daily Pivot Point R1	1710.61
Daily Pivot Point R2	1753.12
Daily Pivot Point R3	1782.64

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