Ethereum Price Falls Beyond $4K: Will Bulls Return?
Ethereum reversed gains from $4,080. Bearish signals are emerging for ETH below $4,000.
Ethereum fell from $4,093 high.
The price is over $3,920 and the 100-hour SMA.
The hourly ETH/USD chart broke below a positive trend line with support around $3,965.
If it holds over $3,840, the pair may rise again.
Ethereum Retraces Gains
Ethereum held over $3,750. After a base, ETH rose beyond $3,920, defeating Bitcoin. Bulls broke $4,000 resistance.
Price hit $4,080 resistance. Price continued falling after reaching $4,093 peak. Prices fell below $4,050 and $4,000. The price fell below the 23.6% Fib retracement level of the $3,680 swing low to $4,093 high.
Additionally, ETH/USD's hourly chart broke below a positive trend line with support around $3,965. Ethereum is over $3,920 and the 100-hour SMA.
The price may face resistance at $3,960 on the upside. At $3,980, serious resistance begins. The primary resistance is around $4,000. A clean break over $4,000 might push the price above $4,080.
A break over $4,080 barrier might lead to greater gains. Ether might reach $4,150 or $4,220 in this situation.
More ETH losses?
Ethereum might fall again if it fails to break $4,000 barrier. Around $3,920 is first downside support. Around $3,880 is the first substantial support.
A decisive break below $3,880 might bring the price near $3,840. If losses continue, the price may reach $3,770 support. Next important support is $3,650.
Tech Indicators
Hourly MACD - ETH/USD MACD is losing bullish momentum.
Hourly RSI: ETH/USD is below 50.
Major Support—$3,920
Major Resistance: $3,980
