Ethereum Price Extends Pullback, $1,920 Support Now Under Threat
Ethereum price started a fresh decline below $2,000. ETH is now correcting gains above $1,920 and might decline further in the near term. The first key resistance is near the $2,020 level. The next major resistance is near the $2,050 level or the 50% Fib retracement level of the downward move from the $2,200 swing high to the $1,912 low. A clear move above the $2,050 resistance might send the price toward the $2,120 resistance. An upside break above the $2,120 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,200 resistance zone or even $2,250 in the near term. If Ethereum fails to clear the $2,020 resistance, it could start a fresh decline. Initial support on the downside is near the $1,920 level. The first major support sits near the $1,880 zone. A clear move below the $1,880 support might push the price toward the $1,850 support. Any more losses might send the price toward the $1,810 region. The main support could be $1,750. 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 – $1,920 Major Resistance Level – $2,020More Losses In ETH?
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