More Losses In ETH?
If Ethereum fails to clear the $3,650 resistance, it could continue to move down. Initial support on the downside is near $3,550. The next major support is near the $3,520 zone.
The main support sits at $3,500. A clear move below the $3,500 support might push the price toward $3,320. Any more losses might send the price toward the $3,250 level in the near term.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $3,550
Major Resistance Level – $3,650
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