Ethereum Price Prediction: ETH remains vulnerable to downside below $1,725-15 key hurdle


  • Ethereum bears catch a breather around two-week low.
  • Clear break below one-month-old horizontal area comprising 200-SMA joins downbeat momentum to favor bears.
  • Downward sloping trend line from February 20 adds to the upside barriers.

Ethereum portrays a corrective pullback from $1,657, to currently around $1,680, during early Tuesday.

In doing so, the quote bounces off 50% Fibonacci retracement of the late February’s fall. However, the ETH/USD pair keeps the previous day’s break of the key support, now resistance, comprising 200-SMA and multiple levels marked from February 24.

Other than the inability to cross the $1,715-25 resistance area, bearish signals from the momentum indicator also suggest no entry for the ETH/USD buyers. Though, sellers await a clear downside break of 50% Fibonacci retracement level, at $1,666, for fresh positions.

Meanwhile, 61.8% Fibonacci retracement level and a four-week-long falling resistance line, respectively around $1,755 and $1,907, add to the upside filters beyond the $1,715-25 immediate hurdle.

Overall, ETH/USD prepares for further declines towards the early month swing lows around $1,445.

ETH/USD four-hour chart

Trend: Bearish

Additional important levels

Overview
Today last price 1684.37
Today Daily Change 3.35
Today Daily Change % 0.20%
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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