Ethereum Bears Are Again Active – Why will ETH Dive Below the $1K Level! » Crypto Update Daily News, Bitcoin and Latest Crypto News


The extended losses of Ethereum have traded below the level of $1,100 which is against the US Dollar. ETH will also accelerate lower when there is quite close to the level below $1,000. On the other hand, it also began with the fresh decline. It is below the level of $1,120 as well as $1,100. Also, price is trading now below the level of $1,100 and here the 100 hourly now just have a moving average.

Moreover, there is some kind of the bearish trend line that forms with the resistance level which is close to $1,115 on hourly chart related to ETH/USD. This pair can also continue to decline when there is also some close connection.

Extends Losses for Ethereum Price

It is important to mention that Ethereum stay in the bearish zone which is below the level of $1,150 and the support zone. ETH have also extended the decline at the level less than $1,120 & $1,100. This also has opened the doors for additional losses which even moved less than $1,080.

With 23.6% of the Fib retracement level related to downward move at $1,275 swing. It is higher at $1,033 low which is even near the level of $1,090. Apart from there is some key bearish trend line that is created with resistance close to $1,115 on hourly chart related to Ethereum/USD. This trend line also in close to 100 hourlies for moving average.

Subsequent barrier for the price level

The other important barrier is close to the level of $1,150 or 50% of the Fib retracement level. It has seen some downward move from high level of $1,275 to $1,033 level low. In this mentioned scenario, price can even rise towards level of $1,200 of the resistance zone. There expected to be additional Losses in the ETH?

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