Ethereum Price Prediction: ETH bears eye mid-$1,500s on break of key SMA


  • Ethereum stays depressed near 17-day low, keeps 50-day SMA breakdown.
  • Bearish MACD, sustained break of the key SMA direct sellers towards the yearly support line.
  • Buyers and sellers both have multiple barriers but trips for bears seem less bumpy ahead of immediate support line.

ETH/USD remains on the back foot around $1,670 during late Tuesday’s trading. In doing so, the altcoin keeps the downside break of 50-day SMA, amid bearish MACD, near the lowest levels last seen on March 07.

Given the clear break of the short-term key Simple Moving Average (SMA), coupled with downbeat MACD, Ethereum sellers look set to attack an upward sloping trend line from December 23, 2020, currently around $1,550.

However, any further downside will be questioned by an ascending support line from January 11 and 100-day SMA, respectively near $1,480 and $1,365.

Meanwhile, an upside clearance of 50-day SMA, at $1,723 now, will not be able to invite ETH/USD bulls as a 12-day-old resistance line and a falling hurdle, established since February 20, close to $1,835 and $1,905 in that order, will challenge the recovery moves.

If at all the Ethereum buyers cross the $1,905 resistance, the record top marked in February around $2,040 will be in the spotlight.

ETH/USD daily chart

Trend: Further downside expected

additional important levels

Overview
Today last price 1665.56
Today Daily Change -15.46
Today Daily Change % -0.92%
Today daily open 1681.02
 
Trends
Daily SMA20 1758.29
Daily SMA50 1717.46
Daily SMA100 1354.8
Daily SMA200 892.31
 
Levels
Previous Daily High 1806.39
Previous Daily Low 1657.17
Previous Weekly High 1931.97
Previous Weekly Low 1706.25
Previous Monthly High 2041.42
Previous Monthly Low 1271.31
Daily Fibonacci 38.2% 1714.17
Daily Fibonacci 61.8% 1749.39
Daily Pivot Point S1 1623.33
Daily Pivot Point S2 1565.64
Daily Pivot Point S3 1474.11
Daily Pivot Point R1 1772.55
Daily Pivot Point R2 1864.08
Daily Pivot Point R3 1921.77

 

 

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