Ethereum Price Struggles At Resistance, Opening Door To Renewed Losses
Ethereum price extended its decline below $2,420 and $2,300. ETH is now attempting to recover from $2,150 but faces many hurdles near $2,365. An upside break above the $2,600 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,700 resistance zone or even $2,720 in the near term. If Ethereum fails to clear the $2,365 resistance, it could start a fresh decline. Initial support on the downside is near the $2,250 level. The first major support sits near the $2,220 zone. A clear move below the $2,220 support might push the price toward the $2,150 support. Any more losses might send the price toward the $2,120 region. The main support could be $2,000. 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 – $2,220 Major Resistance Level – $2,365Another Decline In ETH?
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